CCC buys Romanian Shoe Express for €33 mln

WSE-listed footwear retailer CCC will buy 100 percent stake in Romanian peer Shoe Express for €33 million. The transaction will be conducted through CCC’ subsidiary CCC Shoes & Bags. Shoe Express owned all local CCC-brand stores after purchasing them from Peeraj Brands International. The price will be adjusted for working capital at the time of the transaction and was already approved by the Romanian antitrust watchdog which means that it has already been finalized. The deal is expected to be closed Wednesday.