Operator
Good day, and welcome to today’s Basic-Fit and Clever Fit Transaction Conference Call. My name is Serge, and I’ll be your coordinator for today’s event. [Operator Instructions]
And now I’d like to hand the call over to Richard Piekaar, Head of Investor Relations. Please go ahead, sir.
Richard Piekaar
Director of Treasury, Investor Relations & Sustainability
Hello, thank you, and good afternoon, everyone, and welcome to our analyst and investors call. After the announcement this morning that we are in the process of acquiring Clever Fit, Europe’s largest fitness franchise.
With me today are CEO, Rene Moos; and CFO, Maurice de Kleer. Rene will start by giving a brief explanation of the synergies between our two organizations, followed by some more general facts about the transaction, and Maurice will then walk us through a brief explanation of the financing and will provide some updated guidance to the market.
I would like to remind everyone that safe harbor applies. And with that, I’ll hand over to you, Rene.
René Moos
Founder, Chairman of the Management Board & CEO
Thank you, Richard. Hello, everyone, and welcome to today’s call. This morning, we announced that we signed an agreement to acquire Clever Fit, the largest franchise chain in Europe
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