Spanish container glass manufacturer Vidrala is looking to take advantage of all possible routes to growth. The company expects to ask shareholders at their meeting on 19 June 2008 to approve a EUR 50…
Spanish container glass manufacturer Vidrala is looking to take advantage of all possible routes to growth. The company expects to ask shareholders at their meeting on 19 June 2008 to approve a EUR 500 million issue of convertible bonds, the funds from which will go to strengthen the firm“s balance sheet. The issue, according to a statement to the stockmarket regulator CNMV, will mean the withdrawal of existing shareholders“ preferential subscription rights. The decision was motivated by the company“s desire for the operational freedom needed to make the placement quickly in the market. Shareholders will also have to approve a capital increase of EUR 11 million and a share acquisition plan for company workers and managers.
