Profil:
Pepco Group NVPepco retail share price up 1.9 pct, WIG20 down 0.4 pct at 9:20 local time
Listed retail grop Pepco's share price rose by 1.9 percent to PLN 19.07 (EUR 4.47), with the large-cap WIG20 index falling by 0.2 percent at around 9:20 local time. Around 8:30 local time Pepco announced that it had entered into definitive agreements to sell Poundland to Gordon Brothers.
As stated, the shares in Poundland were sold to Gordon Brothers for a nominal amount, with Pepco's secured loan of GBP 30 million and certain unsecured loans between the Pepco Group and Poundland remaining in place, as well as an overdraft facility of up to GBP 30 million, which will be established between the Pepco Group and Poundland after the proposed restructuring is completed to support the transaction.
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