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Kruk S.A. — M&A Activity 2017
Jan 16, 2017
5678_rns_2017-01-16_01fa6331-6296-49d7-9477-c5f6b9a1250f.html
M&A Activity
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Current Report No. 6/2017
Date of the report: January 16th 2017
Subject: Claim assignment agreement executed on the Italian market
Legal basis: Art. 17.1 of MAR - Inside information
Text of the report:
Further to Current Report No. 125/2016 of December 22nd 2016, theManagement Board of KRUK S.A. (the Company) announces that today,January 16th 2017, the Company's subsidiary ItaCapital s.r.l. of Milan(ItaCapital, the Buyer) has signed binding agreement (Agreement) withBanca IFIS S.P.A of Venezia (the Seller).
The Agreements provide for the acquisition of unsecured consumer loandebt with a total nominal value of approximately EUR 744.6m (PLN 3.26bn,translated at the mid-exchange rate quoted by the National Bank ofPoland for January 16th 2017).
The Agreements are subject to a condition precedent that the debtscovered by the Agreements will be assigned to the Buyer upon payment ofthe Price. Pursuant to the Agreements, the Price will be paid in 10calendar days from the signature date. The Agreements do not provide forany contractual penalties. Other terms and conditions of the Agreementsdo not differ from those commonly used in agreements of such type.