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