Brief: Gino Rossi in talks to sell Simple CP

Monnari Trade SA

19/07/2018 10:23

July 19 (Reuters) - GINO ROSSI SA  GRIP.WA :
    * ITS MANAGEMENT IS ANALYSING THE MONNARI TRADE'S  MONP.WA 
12
MILLION ZLOTY OFFER FOR SIMPLE CREATIVE PRODUCTS (SIMPLE CP) AND
THE COMPANY WILL INFORM ABOUT FURTHER STEPS REGARDING THE
NEGOTIATIONS, GINO ROSSI SAID IN A STATEMENT 
    * THE COMPANY RECEIVED AN UNBINDING ADJUSTED OFFER TO SELL
SIMPLE
CP TO MONNARI TRADE  MONP.WA  ON JULY 18  urn:newsml:reuters.com:*:nFWN1UE0IW
    * THE REFERENCE ENTERPRISE VALUE (EV) OF THE TRANSACTION
WOULD BE
AT 31.9 MLN ZLOTYS AS THE LEVEL OF SIMPLE CP DEBT HAS BEEN SET
AT 19.9 MILLION ZLOTYS
    * THE FINAL PRICE WOULD ALSO BE ADJUSTED BY CHANGES IN
WORKING
CAPITAL AND NET DEBT     
    * "WE ARE AT THE FINAL STAGE OF THE SIMPLE CP SELLING
PROCESS,"
THE COMPANY SAID AND ADDED THAT THE SALE OF THE RETAIL PART OF
ITS BUSINESS IS BENEFICIAL FOR THE GROUP
    * IT WILL HELP TO REDUCE DEBT AND GENERATE FUNDS TO INCREASE
SALES
AND FOCUS ON FURTHER DEVELOPMENT OF GINO ROSSI
    * IN FEB. MONNARI TRADE SUBMITTED PRELIMINARY OFFER FOR
SIMPLE CP
IN A RANGE OF 46 MILLION ZLOTYS TO 50.5 MILLION ZLOTYS, SUBJECT
TO DUE DILIGENCE  urn:newsml:reuters.com:*:nL8N1QA15T

 Further company coverage:  GRIP.WA  
   


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