Greenberg Traurig has advised the CCC Group on the acquisition by Cyfrowy Polsat and A&R Investments Limited of 10% stakes in subsidiary eobuwie.pl for PLN 500 million each. Deloitte Legal reportedly advised A&R Investments Limited and Modrzewski represented Cyfrowy Polsat.
CCC S.A. is one of the largest shoe retail companies in Central Europe and one of the largest footwear manufacturers in Europe. Through its subsidiary eobuwie.pl, the CCC Group also engages in the e‑commerce footwear market in Central and Eastern Europe.
According to the CCC Group, proceeds from the sale are to be used for general corporate purposes, including refinancing of liabilities, additional financial security in the event of further restrictions related to the COVID-19 pandemic, and a cash reserve necessary to acquire a 20% stake in eobuwie.pl from the current minority shareholder. The IPO of eobuwie.pl is planned for 2022 or 2023.
Greenberg Traurig’s team included Partners Rafal Sienski and Stephen Horvath, Local Partner Maciej Pietrzak, Senior Associates Marek Kleczek and Madgalena Medynska, and Associate Michal Baldowski.
Editor's note: After this article was published, Deloitte Legal confirmed that it had advised A&R Investments Limited on the deal. The firm's team included Partners Piotr Siezieniewski and Ryszard Manteuffel, Partner Associate Jacek Korzeniewski, Senior Managing Associates Patrycja Bolimowska, Katarzyna Sawicka, and Jakub Gilgenast, Managing Associate Wojtek Janik, and Associate Marta Duziak.