Fri, Mar
49 New Articles

Greenberg Traurig Advises CCC on Tender Offer for 100% of Shares in Gino Rossi

Greenberg Traurig Advises CCC on Tender Offer for 100% of Shares in Gino Rossi

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Greenberg Traurig is representing CCC S.A. in the announced tender offer for 100% of shares in Gino Rossi S.A.

According to GT, the offer is based on the execution of a conditional agreement on the sale of Gino Rossi receivables with Bank PKO BP S.A. and the signing of agreements with certain minority shareholders of Gino Rossi regarding their participation in the tender offer process.

The tender offer is subject to customary anti-trust approval and certain other conditions, including a 66% acceptance threshold, the execution between CCC and Gino Rossi of an organizational agreement concerning the commencement of strategic cooperation and financial support to Gino Rossi and the execution of agreements with creditors of Gino Rossi regarding reduction of its liabilities.

The CCC Group is one of the largest footwear manufacturers and sellers in Europe. It  operates nearly 1,000 stores and since 2004 it has been listed on the Warsaw Stock Exchange.

The Gino Rossi Capital Group gathers leading brands on the Polish fashion market. The group’s portfolio of brands includes Gino Rossi and SIMPLE. The range of products includes footwear, bags and leather goods and women’s clothes.

According to Greenberg Traurig, the conditional sale agreement with PKO BP states that CCC S.A. shall acquire all cash receivables (whether due now or in future) existing as of the date of the transfer from Gino Rossi under the loan agreements between PKO BP and Gino Rossi in the total amount of PLN 70 million.

The Greenberg Traurig team was led by Local Partner Daniel Kaczorowski and included Partners Andrzej Wysokinski and Aleksander Janiszewski, Senior Associate Pawel Jaskiewicz, and Associates Agata Izyk and Majka Rucinska.

Our Latest Issue