+------------------------------------------------------------------------------+
BN 01/02 07:39 *COLONIAL TO SEEK PERMISSION FOR CAP. INCREASE UP TO EU1 BLN BN 01/02 07:38 *COLONIAL SAYS CONDITIONS FOR COMMITMENTS STILL NOT MET BN 01/02 07:36 *COLONIAL GETS COMMITMENTS TOTALING EU500 MLN VIA CAP. INCREASE BN 01/02 07:33 *COLONIAL GETS COMMITMENTS FROM VILLAR MIR, SANTO DOMINGO, AMURA BN 01/02 07:31 *COLONIAL BOARD HAS RECIEVED 3 INVESTMENT COMMITMENTS BN 01/02 07:29 *COLONIAL TO CALL EXTRAORDINARY SHAREHOLDERS MEETING
+------------------------------------------------------------------------------+
Colonial to Seek Permission for Capital Increase Up to EU1 Bln 2014-01-02 07:57:32.356 GMT
By Charles Penty Jan. 2 (Bloomberg) -- Colonial to ask for shareholder approval for capital increase of up to EU1b, co. says. * Colonial calls extraordinary shareholder meeting in Barcelona for Jan. 20 or 21 as part of process for refinancing debt * Colonial gets 3 investment commitments totaling EU500m, co. says; investors include Grupo Villar Mir, which commits to EU300m via capital increase; Grupo Santo Domingo, Amura Capital each commit to EU100m via capital increase * Investors say they are acting independently, don’t plan pact, Colonial says * Commitments subject to following conditions: capital increase price maximum should be EU0.50/shr; commitment not to sell more than 20% of stake in SFL; commitment to refinance syndicated loan now standing at EU1.76b * As of now, conditions for investment commitments haven’t been met and no accord reached on debt refinancing with creditors * Co. to also seek approval for additional capital increase of up to EU500m through conversion of loans which wouldn’t be carried out if capital increase fully subscribed * Colonial comments in regulatory filing today Link to Company News:{1326Z SM <Equity> CN <GO>} Link to Company News:{COL SM <Equity> CN <GO>} Link to Company News:{FLY FP <Equity> CN <GO>}
For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story: Charles Penty at +34-91-700-9654 or cpenty@bloomberg.net