On October 17, the management board of Dino Polska concluded a preliminary conditional agreement with eZebra.pl and its partners. As a result is to purchase existing shares from the founders and increase the share capital so as to ultimately own 75 percent. shares in an online drugstore.
The agreement provides that Dino will take control of the online store as well as its subsidiaries, i.e. 3BOOM and JTG. The latter has its own warehouse and provides storage and shipping services.
The transaction amount is to be PLN 61 million. Approx. PLN 11.5 million of this amount will go to the acquired company as a contribution due to Dino taking up new shares. The remaining part is payment for existing shares that the trading giant will purchase from the founders of the eZebra.pl store. “The sales price will be adjusted for net debt and the difference in the working capital of eZebra, JTG and 3BOOM as of the closing date,” says Dino.
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Dino is waiting for the consent of the Office of Competition and Consumer Protection
For the transaction to be completed, two conditions must be met by March 31, 2024. Dino Polska indicates that this is about:
obtaining consent from the president of the Office of Competition and Consumer Protection (UOKiK) for the purchase of shares;obtaining by the founders the consent of the JTG lending bank to carry out the above-mentioned transaction and to perform other activities required by agreements with this bank.
In addition, Dino will have the option to buy back the remaining 25%. shares under the tender offer, which will become effective after five years and six months from the conclusion of the transaction, which will guarantee them 75%. participation. The company will have a six-month window to finalize a future purchase.
In addition, the founders will have the opportunity to sell these shares after five years and nine months from the date of the current share sale transaction. And they will have six months to finalize the details. Both parties also agreed on a potential purchase and sale price.
eZebra.pl is a gateway for Dino to sell online
As we read in the announcement, eZebra.pl is an online drugstore that “offers a wide range of cosmetics and perfumery and accessories from the following categories: beauty, health, personal care and household.”
The company’s intention is to cooperate with the founders and management staff of eZebra in order to further develop the activities of the eZebra.pl drugstore and jointly building competences in the area of e-commerce. The founders will remain on the eZebra management board, supervising the implementation of the current development strategy, Dino informs.
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2023-10-17 18:44:02
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