Dass Nordeste Calçados e Artigos Esportivos S.A. signed a binding offer to acquire 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A. for an enterprise value of approximately BRL 400 million.

Dass Nordeste Calçados e Artigos Esportivos S.A. signed a binding offer to acquire 60% stake in Terras de Aventura Indústria de Art Esportivos Ltda from Alpargatas S.A. (BOVESPA:ALPA4) for an enterprise value of approximately BRL 400 million on November 1, 2021. The proposal is composed of a fixed portion of approximately BRL 300 million, to be paid in 3 installments, and a variable portion in the amount of up to Approximately BRL 100 million, subject to the achievement of certain targets during 2022 and 2023. The payment will be made within 4 years of receipt of the Proposal, subject to the inflation adjustment, in proportion to the corporation's stake.

The conclusion of this transaction is subject to the negotiation to the satisfaction of the parties involved of terms of the final agreements and other conditions usual for operations of this nature, including the performance of an audit. Alpargatas S.A. announced that antitrust body Cade has approved the sale of its shares. Investment One Partners acted as an exclusive financial advisor to Alpargatas in the transaction.