Private equity-backed Cortefiel in €130m capital increase

The capital increase will see the creation of 776.96 million new shares with a nominal value of €0.169.

The capital increase will also allow the company to compensate for the €7.57m in losses made last year.

The capital increase comes months after the firm's private equity investors injected an additional €100m as part of a refinancing of the company's debt. Under the agreement, Cortefiel's creditors Société Générale, RBS, J.P. Morgan and ING refinanced the company's debt, which was reduced to €940m. The terms of the debt maturity have not been altered and remain set at 2015.

CVC, Permira and PAI Partners, acquired the company in September 2005 in a deal valued at €1.44bn

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• Topics
• Expansion
• Consumer
• Southern Europe
• Spain
• CVC Capital Partners
• PAI Partners
• Permira