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Stock impact report

L1 Retail Launches Voluntary Tender Offer and €500m Conditional Capital Increase as Part of a Comprehensive Rescue Plan for DIA

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: PR Newswire
MADRID, Feb. 5, 2019 /PRNewswire/ -- L1 Retail, an international investment business with proven world-class retailing and retail transformation expertise, and owner of 29% of DIA, the Spanish food retailer, today announces a voluntary tender offer and comprehensive rescue plan to secure the future of DIA. L1 Retail believes that under the right leadership and governance, DIA can deliver a transformation and re-establish its leading position in Spain to the benefit of the Spanish economy. To achieve this, L1 Retail is committed to support a €500m capital increase following the successful completion of its VTO. The L1 Retail rescue plan, 'MAKE DIA A CHAMPION', consists of three integrated components. First, a VTO for the acquisition of all the shares in DIA that it does not already own at a price of €0.67 per share, a significant premium of 56.1% to the closing price on 4 February, 2019. Second, a commitment to support a capital increase of €500m to achieve a viable long-term capital s Show less Read more
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