Report: Dia may approve offer of LetterOne to buy company - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: Dia may approve offer of LetterOne to buy company

MADRID, Feb 7 (PRIME) -- The board of directors of Spanish retailer Dia is ready to approve an offer of LetterOn of Russian tycoon Mikhail Fridman if the investment company guarantees investment of 500 million euros, Spanish daily Expansion reported on Thursday.

УThe board of directors thinks that the announcement of the offer shows attractiveness of the companyТs business,Ф and that the plan of transformation of the companyТs business suggested by LetterOne is good for Dia, Expansion reported quoting a letter of Dia to the National Securities Market Commission of Spain.

On Tuesday, LetterOne said it planned to increase its stake in the Spanish retailer to 100% from 29% paying 0.67 euros per share, or a total of about 300 million euros, and invest 500 million euros in DiaТs equity to help the retailer transform and regain leadership on the local market.

But the offer does not guarantee the 500 million euro investment, and DiaТs board wants to see the guarantee and set a deadline for investment. The board also wants LetterOne to define the way for the retailer to redeem its debts, including a 215 million euro credit line due on May 31 and 305.7 million euros of bonds before July 19.


07.02.2019 16:03
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 91.3115 +0.0074 20 oct
USD 77.9241 -0.0403 20 oct
Stock Market Indices
1D 1W 1M 1Y
rtsi 1135.12 +0.20 18:50 19 oct
micex 2784.72 -0.34 10:00 20 oct
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 163.60 -0.23 23:49 20 oct
lkoh 4194.00 -1.39 23:49 20 oct
rosn 381.55 -0.37 23:49 20 oct
sber 202.78 +0.80 23:49 20 oct
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 91.4325 -0.0500 14:59 20 oct
USDTD 77.5250 -0.4150 17:44 20 oct