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Overview
- Americanas accepted a binding proposal from Fan Store Entretenimento (BandUP!) to serve as the stalking-horse bidder for the isolated productive unit Uni.Co.
- The offer sets a price of R$152.9 million based on a reference equity valuation of R$180 million for 100% of Uni.Co.
- BandUP! holds the right to match the highest competing bid if it is at least 1% above its offer during the forthcoming auction.
- The payment terms call for R$20 million at closing, with the remainder in five equal annual installments indexed to the CDI starting one year after closing.
- The proposed sale forms part of Americanas’ judicial recovery plan, and Uni.Co includes the Imaginarium and Puket brands while BandUP! owns Piticas.