Greenberg Traurig is representing CCC S.A. in the announced tender offer for 100% of shares in Gino Rossi S.A., the execution of a conditional agreement on the sale of Gino Rossi S.A. receivables with Bank PKO BP S.A. and the signing of agreements with certain minority shareholders of Gino Rossi S.A. 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 S.A. and Gino Rossi S.A. of an organizational agreement concerning the commencement of strategic cooperation and financial support to Gino Rossi S.A. and the execution of agreements with creditors of Gino Rossi S.A. regarding reduction of its liabilities.
The conditional sale agreement with PKO BP S.A. 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 S.A. under the loan agreements between PKO BP S.A. and Gino Rossi S.A. in the total amount of PLN 70 million.
Greenberg Traurig provided complex legal advice with respect to the transaction.
The Transaction Team responsible for the tender offer and the agreements with minority shareholders is led by Local Partner Daniel Kaczorowski who is supported by Associates: Agata Iżyk and Majka Rucińska.
Partner Andrzej Wysokiński along with Partner Aleksander Janiszewski and Senior Associate Paweł Jaśkiewicz were responsible for the execution of a conditional agreement regarding the sale of Gino Rossi S.A. receivables with Bank PKO BP S.A.
Recently Greenberg Traurig 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.
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 eobuwie.pl 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.
The Gino Rossi Capital Group gathers leading brands on the Polish fashion market. The group’s portfolio of brands includes Gino Rossi and SIMPLE. All collections by the Gino Rossi Fashion Group reflect the newest, sophisticated designs. The range of products includes footwear, bags and leather goods and women’s clothes.
The Gino Rossi Group consistently implements its development strategy based on high quality, wide selection of products, building strong brands and a network of brand stores.
Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 2000 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 www.gtlaw.com