Further to Current Report No. 125/2016 of December 22nd 2016, the Management Board of KRUK S.A. (the Company) announces that today, January 16th 2017, the Company’s subsidiary ItaCapital s.r.l. of Milan (ItaCapital, the Buyer) has signed binding agreement (Agreement) with Banca IFIS S.P.A of Venezia (the Seller).
The Agreements provide for the acquisition of unsecured consumer loan debt with a total nominal value of approximately EUR 744.6m (PLN 3.26bn, translated at the mid-exchange rate quoted by the National Bank of Poland for January 16th 2017).
The Agreements are subject to a condition precedent that the debts covered by the Agreements will be assigned to the Buyer upon payment of the Price. Pursuant to the Agreements, the Price will be paid in 10 calendar days from the signature date. The Agreements do not provide for any contractual penalties. Other terms and conditions of the Agreements do not differ from those commonly used in agreements of such type.
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