Hypermarcas sells its Assolan cleaning products brand to Quimica Amparo, Brazilian manufacturer of cleaning, laundry care, personal hygiene products, for 125M reais

São Paulo , December 12, 2011 (press release) – HYPERMARCAS S.A. (the "Company or "Hypermarcas"), "), in compliance with the provisions of Art. 157, § 4th, of Law n° 6,404, of December 15, 1976, as amended and currently in force (the "Brazilian Corporate Law") and CVM Instruction No. 358 of January 3, 2002, as amended and currently in force, hereby informs to the public in general that on the present date, a "Contrato de Compra e Venda de Quotas e Outras Avenças" (Agreement for the Purchase and Sale of Quotas and Other Covenants - the "Agreement") was executed by and between the Company and Química Amparo Ltda. ("Química Amparo"), providing for the terms and conditions of the transfer, by the Company to Química Amparo, of the business of manufacturing and sale of steel wool, steel cloth, synthetic sponges, cleaning cloths and scouring powder, distributed under trademarks "ASSOLAN", "PERFEX" and "CROSS HATCH" (the "Household Cleaning Business" ), by means of the transfer of quotas representing the entirety of the capital stock of Assolan Holding Ltda., a special purpose entity ("Assolan") established by Hypermarcas exclusively for the purpose of contributing the Household Cleaning Business prior to its transfer to Química Amparo.

The closing and implementation of the transaction shall occur once the conditions precedent provided for in the Agreement have been verified, including the conference of the Household Cleaning Business currently conducted by the Company to Assolan.

The amount to be paid by Química Amparo to the Company for the acquisition of the Home Care Business is up to R$125,000,000.00 (one hundred and twenty-five million Reais), of which R$35,000,000.00 (thirty-five million Reais) subject to the sales performance of the Household Cleaning Business during 2012, as stated in the Contract.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.