Solocal Group : Results of the capital increase, large-scale conversion of debt into equity
>A deal to reduce net debt but limited visibility on the operating front - On Friday after the close, Solocal announced the results of its capital increase. The group has raised € 85m in cash and will convert € 250m of debt into shares. This will allow it to reduce its gross debt by € 260m. The Golden Tree fund thus becomes the group’s no. 1 shareholder with 26% of the capital. Two new directors have been appointed, the CEO and directors of the Pages Jaunes Canada and...Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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