Belgium's Deceuninck to place new shares worth 50 mln euros

Deceuninck NV

26/08/2014 08:02

BRUSSELS, Aug 26 (Reuters) - Belgian PVC window frames maker 
Deceuninck  DECB.BR  plans to raise 50 million euros ($66 
million) in a private placement of new shares to fund the 
purchase of Pimas  PIMAS.IS  in Turkey and future acquisitions. 
    Deceuninck said on Tuesday it would issue 26.3 million 
shares at 1.90 euros apiece and that these were already 
allocated to investors Gramo and Sofina, which would 
respectively own 21.01 percent and 17.5 percent of the group 
after the transaction. 
    Deceuninck's shares closed at 1.88 euros on Friday and were 
suspended on Monday pending the announcement. 
    On Monday, the group said it would buy an 81 percent stake 
in Turkish company Pimas for $26.5 million.  ID:nL5N0QV0FR  
    "The balance will enable Deceuninck to undertake further 
strategic projects and investments in a consolidating industry," 
Deceuninck said in a statement. 
    ($1 = 0.7569 Euros) 
 
 (Reporting by Robert-Jan Bartunek; Editing by Mark Potter) 
 ((robertjan.bartunek@thomsonreuters.com; +32 2 2876850; Reuters 
Messaging: robert-jan.bartunek.thomsonreuters.com@reuters.net)) 
 
Keywords: DECEUNINCK ISSUE/