Polish footwear chain CCC signs conditional deal to take full control of online retailer Modivo (updated)

Modivo SA

17/02/2025 12:20

(Adds planned dividend payout in 4th paragraph and sales
targets in paragraph 5)
       GDANSK, Feb 17 (Reuters) - Polish footwear chain CCC
 CCCP.WA  said on Monday it has signed a conditional agreement
to acquire an additional 22.81% stake in online fashion retailer
Modivo to take full control. 
        CCC will buy out minority shareholders for a total price
of 1.41 billion zlotys ($355.52 million) and plans to issue up
to 10 million new shares and 2.5 million warrants to finance the
deal, it said.
    CCC currently owns about 77.5% of Modivo.
    CEO Dariusz Milek also told a press conference that CCC
planned to pay a dividend for 2025 of up to 25% of the company's
net profit. 
        The retailer targets sales of over 17 billion zlotys in
2027, up from 10.5 billion zlotys in 2024, and sales of over 25
billion zlotys in 2030, it said in a presentation during the
press conference.
        
  
($1 = 3.9660 zlotys)

 (Reporting by Julia Kotowska and Marta Maciag; Editing by
Muralikumar Anantharaman and Susan Fenton)
 ((Julia.Kotowska@thomsonreuters.com; +48 58 769 67 31;))