Announcement VLA

13.09.2017

Telgte, 12 September 2017: Takko Fashion S.à r.l. (“Takko”), a leading European apparel retail group operating about 1,850 stores across 16 countries in Western, Central and Eastern Europe, today announced that it has been informed by its shareholders of a transaction relating to the vendor loan agreement dated 8 February 2011 (the “VLA”):

Announcement

The VLA is currently between Takko’s indirect holding companies, Salsa Retail Holding Midco S.à r.l. as the borrower (“Midco”), Midco’s direct parent Salsa Retail Holding Topco S.à r.l. as the shareholder, and Advent Vision Two S.à. r.l. as the lender. The VLA is secured by the related pledge agreement dated 8 February 2011 (the “VLA Pledge”) whereby Midco provided security to the VLA lender for Midco’s VLA obligations.

Takko has been informed that Advent Vision Two S.à r.l. as VLA lender has agreed to sell all of its rights and obligations under the VLA and under the VLA Pledge to Salsa Guernsey Acquisition L.P., an affiliate of funds advised by Apax Partners. The transaction is expected to complete in the next few days.

Disclaimer

This press release contains forward-looking statements involving known and unknown risks, uncertainties and other factors, many of which are outside the control of Takko Fashion S.à r.l., Takko Luxembourg 2 S.C.A. and their affiliates (the “Group”), are difficult to predict and may cause future developments to differ significantly from developments expressed or implied in this press release.
Any liability (including in respect of direct, indirect or consequential loss or damage) of the Group with regard to the information contained in this press release is expressly disclaimed. No part of this press release, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.
No member of the Group undertakes any obligation or expects to update or revise this press release, including forward-looking statements or any other information contained herein, whether as a result of new information, future events or otherwise. This press release is not for publication, release or distribution in any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction nor should it be taken or transmitted into any such jurisdiction.

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