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Greenberg Traurig represented CCC S.A. in the start of cooperation with HR Group and the sale of its German operations

WARSAW – Nov. 26, 2018 – Greenberg Traurig, LLP represented CCC S.A. in the complex transaction which will start business and capital cooperation with HR Group. HR Group is the second biggest footwear retailer in Germany. CCC S.A. sold its former German operations and acquired 30.5% shares of the local vice-leader, while the HR Group will take advantage of the sourcing, production, and technology competences of the CCC Group. Both sides expect numerous positive effects and synergies from the Transaction.

Greenberg Traurig represented CCC S.A. (Transaction) in the signing of several agreements related to the Transaction and the acquisition of a minority stake in the HR Group Holding S.à. r.l. (HR Group): (i) a conditional share purchase agreement regarding 12.33% of the share capital of HR Group with capiton V GmbH & Co. Beteiligungs KG (capiton); (ii) a conditional share purchase agreement regarding 19.59% of the share capital of HR Group with Flo Mağazacılık ve Pazarlama A.Ş; (iii) as well as a conditional share purchase agreement regarding the sale of shares in CCC Germany GmbH to an HR Group subsidiary, Blitz GmbH. CCC will also provide a loan for the restructuring of its former stores.

As a part of the transaction CCC and capiton entered into a call and put option agreement for the remaining shares in HR Group hold by capiton representing 51.76% of HR Group’s share capital. CCC will be entitled to exercise call option within one month upon the lapse of six months or 24 months from the transaction closing date.

Additionally, the CCC Group and HR Group entered into a framework supply agreement governing the principles of commercial cooperation with regard to the supply of products, pursuant to which its subsidiaries will initiate cooperation with regard to supplies of own-brand products in the upcoming seasons.

"This Transaction marks the next stage of the development of our client and it also showcases the cross border capabilities of Greenberg Traurig in the region. As Greenberg Traurig, we are very pleased to have been involved in this complex and demanding process,” Warsaw Managing Partner Jarosław Grzesiak said.

The Transaction was handled by the Warsaw and Berlin offices of Greenberg Traurig.

The Greenberg Traurig Warsaw Team was led by Local Partner Daniel Kaczorowski together with associates: Agata Iżyk, Agnieszka Obrycka, and Katarzyna Małocha.

GT Berlin team led by Partner Peter Schorling and Senior Associate Sara Berendsen together with Associate Marco Stempin, Counsel Carsten Kociok, and associates: David Schwintowski, Lucas Wüsthof, Pamela Zieba, and others.

The CCC Group is one of the largest and fastest growing of large companies in Europe which specializes in footwear trade as well as one of the largest footwear manufacturers in Europe. Thanks to its subsidiary S.A., the CCC Group is also the e-commerce leader on the footwear market in Central and Eastern Europe. The CCC Group operates nearly 1,000 stores. Since 2004, CCC has been listed on the Warsaw Stock Exchange and is included in the WIG 20 index.

HR Group consists of two footwear businesses: retail part including 364 stores under Reno brand, mostly in Germany (288), Austria (38), Switzerland (17), and the wholesale business Hamm operating in over 2090 points of sale via partners such as Metro, Tesco, and others. The Group has been active for over 130 years and has a strong position on the attractive German market.

Greenberg Traurig LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2,000 attorneys serving clients from 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. Greenberg Traurig Grzesiak sp.k. was named the 2018 Most Innovative Law Firm of the Year Award for Poland by International Financial Law Review (IFLR) and the 2017 Law Firm of the Year in Poland by Chambers and Partners. The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of more than 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000, and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution, and TMT. For additional information, please visit