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Home Economy

DIA supermarkets “successfully” completed a capital increase of more than 1,000 million euros that prevented a “disintegration”

Ursula Curtis by Ursula Curtis
August 5, 2021
in Economy
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DIA supermarkets “successfully” completed a capital increase of more than 1,000 million euros that prevented a “disintegration”
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DIA supermarket group claims to have “successfully” completed a capital increase process totaling €1028 million. Within the scope of this operation, 769 million euros correspond to the conversion of the company’s debt to equity, and another 259 million euros correspond to the cash tranche of a capital increase directed, primarily, to minority shareholders, of which 12,927 were subscribed to 555,100 new shares.

According to DIA Group in a statement, the demand for the cash “tranche” destined for minority shareholders exceeded 1.67 times the supply of new shares offered, representing a total demand of nearly €433 million.

The new capital increase will allow the Distribution Group to have an improved capital structure, with “new injections of liquidity that will speed up the transformation of Grupo DIA and eliminate, and therefore avoid, the negative equity situation in which the company has found itself, which incurs a legal problem causing dissolution”, the group asserts. In a statement.

Stéphane Ducharme, CEO of Grupo DIA, emphasized the process: “I would like to thank all the shareholders, both those already present in the capital and the new investors, for their support of this process, particularly in the ‘Tranche Two’.” of the capital increase.

The DIA Group has approximately 6,100 stores or special franchises in Portugal, Spain, Brazil and Argentina, and employs more than 39,000 employees.

Ursula Curtis

“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”

Ursula Curtis

Ursula Curtis

"Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast."

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