SAO PAULO–(BUSINESS WIRE)–Garnero Group Acquisition Company (GGAC) (NASDAQ:GGAC), a public
investment vehicle formed for the purpose of effecting a merger,
acquisition or similar business combination, announced today that, as a
result of certain material breaches by Q1 Comercial de Roupas S.A.
(Grupo Colombo) of the agreement between the parties, it has
terminated its previously announced proposed merger with Grupo Colombo.
GGAC intends to vigorously pursue its claims and remedies under the
agreement and applicable law against Grupo Colombo, the other parties to
the investment agreement and their respective affiliates and
representatives.
T…
Read the full article at: http://www.businesswire.com/news/home/20160720006277/en/Garnero-Group-Acquisition-Company-Announces-Termination-Investment