Zegona closes a capital increase of 300 million to buy Vodafone Spain

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The British investment fund Zegona has taken a new step to close the purchase of Vodafone Spain with the closing of a capital increase of 300 million euroswhich was necessary to complete the transaction.

The fund injection has been backed by both Zegona shareholders and Fidelity Research Management, Marwyn Investment y Aberfoth Partnersas well as by new investors such as Thornburg Investment Management y Alken Asset Managementwhich have taken stakes of 4.6% and 4.10%, respectively.

In total, the group has issued 174 million shares at 150 pence per share. Now, it will take a new step with a capital increase of eight million euros, as well as another more significant one with the formalization of the joint entity with Vodafone, through which the operator will lend 900 million euros to finalize the transaction.

This company will receive more than 523 million shares, which would give it control of Zegona, however, under its terms, renounces to exercise use of his political rights in the companywith the exception of a cash takeover that would give Vodafone a way to exit the shareholding.

Zegona It seeks to close the operation in the first quarter of next year, so it will rush to register the capital increase next week, at the latest. In addition, a shareholders meeting will be held next Thursday to approve the operation and thus be able to begin the regulatory procedures for the Government’s ‘anti-takeover’ shield.

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