Victory & Dreams International Holding B.V. concluded a sale and purchase agreement to acquire BONITA GmbH & Co. Kommanditgesellschaft from Tom Tailor Holding SE (XTRA:TTI) on March 20, 2019. The closing of the transaction is subject to the usual approvals from the anti-trust authorities. As of May 31, 2019, the consortium banks not approved the sale of BONITA as sufficient majority for approval to complete the sale does not exist. The transaction is expected to have a negative impact of €40-50 million on the results of the discontinued operation in fiscal 2018. Henning Bloss of Covington & Burling LLP acted as legal advisor to Tom Tailor Holding SE and BONITA GmbH & Co. Victory & Dreams International Holding B.V. cancelled the acquisition of BONITA GmbH & Co. Kommanditgesellschaft from Tom Tailor Holding SE (XTRA:TTI) on March 20, 2020.