Alf Group To Sell 50% Interest To Listed European Company

Dec. 22, 2009 - PRLog -- ALF Group has entered into a Heads of Agreement to sell a 50% interest in the company to Can Can Lingerie Holding AG (CCH), a company listed on the Frankfurt Stock Exchange. Upon settlement of this transaction, it is planned to change the name of the listed company to Can Can Holding AG, to more accurately reflect the wider range of investments and assets owned by CCH.

The ALF Group believes that it can achieve scalable and profitable growth on a global basis through this relationship. As part of the agreement ALF Group has given CCH an exclusive option to buy the remaining 50% of ALF Group based on an agreed formula.
Further to the announcement made by CCH, ALF Group would like to add some important points:

Over 65% of the budgeted EBIT for the 2009 financial year (ending June 30 2010) has already been achieved. Based on this and the current and forward work in progress, we reasonably expect to exceed the EBIT forecast provided to CCH.

The 2010 estimates for EBIT provided to CCH (3 million Euro) are at the bottom of our range estimates. We will be better placed to revise these estimates after settlement of the proposed transaction, which is expected to be at the end of February, 2010.

ALF Group has an historic success rate of 82.3% on litigation funding matters and an annual internal rate of return of 2800%.

ALF Group is currently reviewing over $100million dollars in claims. ALF will reject a number of funding requests and only proceed with claims that have high prospects of success.

Under the Agreement, CCH is required to appoint auditors, enter into a compliance plan, appoint independent directors and do such things as may be required within a reasonable period of time to allow CCH to move from the Open Market to the General Standard of the Frankfurt Stock Exchange.


ABOUT ALF GROUP

ALF Group is the holding Company for various businesses. Within ALF Group are several litigation funding and restructuring Companies. ALF Group maintains strong relationships with all leading receivers and liquidators and identify excellent assets at distressed prices .ALF Group have the ability to acquire assets by proposing deeds of company arrangements for distressed companies.  

ALF Group has been successful at securing property assets at up to 40% discount to the already distressed value. ALF group then add value to the newly acquired assets and dispose of them in a timely manner. ALF Group is in on-going discussions with major receivers and liquidators regarding funding claims that would be available to them.
ALF Group has now been invited to enter into direct negotiations with Armstrong Wily & Co one of Australia’s oldest and successful liquidation firms who specialize in Bankruptcy’s and recoveries in liquidations. In this regard ALF Group will review funding options of claims arising out of major corporate collapses . These claims would in most cases be against the director’s professional negligence insurance companies and the directors of large failed companies.  

ABOUT CCH    

Can Can Lingerie Holding AG (CCH) develops, acquires or invests in innovative companies operating or expanding internationally. We leverage our expertise in international operations and expansions with a focus on emerging markets and China, as we believe emerging markets provide an excellent environment for growth. We also believe innovative companies provide opportunity for growth in all international markets. By developing and partnering with innovative companies and taking advantage of the benefits of operating in emerging markets we maximize growth potential.


CCH website: http://www.cancanholdings.com

CCH press release regarding this transaction:

http://www.irw-press.at/press_html.aspx?messageID=15522

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ABOUT ALF GROUP

ALF Group is the holding Company for various businesses. Within ALF Group are several litigation funding and restructuring Companies. ALF Group maintains strong relationships with all leading receivers and liquidators and identify excellent assets at distressed prices .ALF Group have the ability to acquire assets by proposing deeds of company arrangements for distressed companies.