Dia closes a financing agreement of up to 896 million euros with several financial entities

Dia closes a financing agreement of up to 896 million euros with several financial entities


MadridUpdated:

Dia has announced this Monday the closing of a financing agreement with several financial entities for a total amount of 896 million euros, divided into several tranches, and with a maturity date of May 31, 2019. In addition, in the same notice sent to the National Securities Market Commission (CNMV), it has confirmed the appointment as counselor of Mr. Jaime García-Legaz and Borja de la Cierva, as the new CEO, as anticipated by ABC.

Among the obligations acquired by the distributor is a non-dividend distribution agreement without the consent of the creditor financial institutions until the debt acquired has been amortized, as well as the continuation of the divestments in Clarel and Cash & Carry (MAX Discount) or the promotion of a capital increase of a minimum of 600 million euros during the first quarter of 2019, prior to the maturity of the agreed financing.

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