CVC Group announces the acquisition of Exchange Experiment

The operator and travel agency CVC announced last Thursday (29) the acquisition of the Experiment, a company specialized in trips of Exchange. Estimated base price for the acquisition of 100% of the company is R$ 41,078,000, taking into account the designed Experiment''s Ebitda for the year 2016 and total sales projected in 2016 with an approximate retail value of 100 million R$. The purchase price is subject to adjustment based on actual Ebitda in the fourth quarter of 2016, as well as the net cash and working capital of the Experiment, established on 31 December 2016.
The base price will be paid to sellers as follows: 50% in cash and 50% in two successive instalments and annual in the years 2017 and 2018, to be updated by CDI. Is provided for the payment of an earn-out for performance for the sellers, if sales targets are achieved in 2017 and 2018. The current Directors of the Experiment, Patricia Zocchio and Roberta Zocchio, shall exercise the functions of Director, President and Executive Director.