Hal Accepts 51% Safilo Bonds, Waives Previous Threshold
30 Noviembre 2009 - 12:13PM
Noticias Dow Jones
Dutch investor HAL Holding NV (HAL.AE) said Monday it will move
forward with its offer for the world's second-largest eyewear
maker, Safilo Group SpA (SFL.MI), and has accepted 51% of Safilo
bonds.
HAL said its offer had been accepted by the representatives of
investors holding 50.99% of the firm's bonds. The Dutch investor
had decided to waive the 60% condition, since 50.1% is all it needs
to change the debt covenants attached to Safilo's bonds.
HAL's tender is conditional on the Dutch fund's acquisition of a
majority stake in the company and on a capital increase.
The acquisition of HAL's equity interest in Safilo, which will
range from 37.23% to 49.99%, is expected to be closed in the first
quarter of 2010, HAL said.
Safilo's main creditors are Italy's two biggest banks, Intesa
Sanpaolo SpA (ISP.MI) and UniCredit SpA (UCG.MI).
Company Web site: www.safilo.com
-By Chiara Vasarri and Sabrina Cohen, Dow Jones Newswires; 39 02
58 21 9904; chiara.vasarri@dowjones.com
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