Dia Retail, subsidiary of the group DayAgreement reached on the sale of Clarel to Colombian group Trinity Approximately 42.2 million euros, as reported this Tuesday by the company, which stated that this amount may vary depending on certain parameters.
Specifically, Dia will receive an additional amount for the operation of at least 11.5 million euros, payable in 2024, and a maximum of 15 million euros in 2029.
Additionally, a 18.7 million will borrow (net cash of 15.7 million) will be paid out in phases (4.2 million in 2024, 12.3 million in 2027 and 2.2 million in 2029), meaning that the estimated maximum total funds will be €42.2 million will come.
The agreement reached with Colombian company Trinity includes, among other assets, approximately: 1,000 Clarel stores distributed nationwide and three distribution centers.
Dia Retail will allocate the resources from this sale to further the consolidation of its growth, as the group assured the National Securities Market Commission (CNMV).
The operation is subject to the relevant competition permit and is expected to be completed in the first half of 2024.
“We are determined to make Clarel” One of the favorite brands of Spaniards“This stimulates new growth opportunities for the brand and the business, building on what has been built to date,” said Omar González, chairman of the Trinity group.
Dia CEO Martín Tolcachir emphasized that “in this new phase of growth” the group wants to focus on “what it does best: local food distribution”.
Negative accounting impact of €9.4 million
As a result of this operation; Dia estimates a negative accounting impact of €9.4 million In the 2023 consolidated income statement.
For this operation, Dia received advice from Arcano Partners, Herbert Smith Freehills and Deloitte, while Trinity group was advised by DLA PIPER.
Last August, Dia admitted that it was her. We are “actively” looking for a new buyer for more than 1,000 Clarel stores after canceling a €60 million sale deal with the C2 Private Capital fund.
According to the supermarket chain, the agreement with the investment fund in question was “terminated” on July 31 after conditions precedent to the agreement were not met.
Source: Informacion
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