Brief: Deoleo Shareholders Meeting Approves Its Debt Restructuring Plan

Deoleo SA

17/01/2020 15:23

Jan 17 (Reuters) - Deoleo SA  OLEO.MC :  
    * SAYS EXTRAORDINARY SHAREHOLDERS MEETING APPROVES CAPITAL
REDUCTION TO ZERO EUROS THROUGH CREDIT COMPENSATION
    * APPROVES SIMULTANEOUS CAPITAL INCREASE OF 50 MILLION EUROS
WITH
RIGHT TO PREFERRED SUBSCRIPTION FOR SHAREHOLDERS
    * MAJORITY SHAREHOLDER CVC CAPITAL PARTNERS COMMITS TO
SUBSCRIBE
UP TO 40 MILLION EUROS OF CAPITAL INCREASE
    * CREDITOR FINANCIAL INSTITUTIONS WILL ASSUME 49% OF DEOLEO,
AFTER
A CAPITALIZATION OF UP TO 283 MILLION EUROS
    * CAPITALIZATION BY CREDITORS WILL REDUCE THE GROSS
SYNDICATED
DEBT OF THE GROUP, FROM THE CURRENT 575 MILLION EUROS, TO AROUND
240 MILLION EUROS

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nCNM7C60Wy  urn:newsml:reuters.com:*:nCNMLNYG0
    
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