Current Report No. 114/2016: Agreement for assignment of claims signed with a Carrefour Group company in Spain

Further to Current Report No. 109/2016 of November 22nd 2016, the Management Board of KRUK S.A. (“Company”) announces that on November 30th 2016 a firm agreement (“Agreement”) was signed between the Company’s subsidiary InvestCapital Malta Ltd. of Malta (“InvestCapital”, “Buyer”) and the Spanish-based company of the Carrefour Group Servicios Financieros Carrefour, E.F.C., S.A. of Madrid (“Seller”). The Agreement provides for the purchase of an unsecured retail debt portfolio with a total nominal value of approximately EUR 183m (PLN 807m translated at the mid exchange rate published by the NBP for November 30th 2016). 

The Agreement is subject to a condition precedent that the debt portfolio covered by the Agreement will be transferred to the Buyer upon payment of the Price. The Price has been paid today. The Agreement does not provide for any contractual penalties. Other terms and conditions of the Agreement do not differ from those commonly used in agreements of such type. 

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