CCC buys out Romanian unit for €33 mln, will enter Georgia and Kazakhstan

WSE-listed footwear retailer CCC signed a preliminary agreement to buy its franchise network of 54 outlets in Romania for €33 million from Peeraj. The deal is expected to be finalized by end-H1 2018 and its price could be adjusted. Moreover, the company signed a letter with Peeraj to open CCC locations in Kazakhstan and Georgia, the company said in a market filing. Out of the €33 million price tag, €1 million will be retained by CCC as a down payment for initial product supplies to Georgia and Kazakhstan.