CRC Forms a New Holding Company to Provide Financial Support for CRC Rinascente

Central Retail Corporation Public Company Limited (SET: CRC) on Tuesday announced the establishment of a new subsidiary entitled Central Retail Investment Limited as a holding company with a paid-up capital of EUR120,000,000.

The purpose of the establishment is to lend the proceeds to CRC Rinascente S.p.A., a subsidiary of the Company, which will be utilized to pay off bank loans that are due.