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BRIEF-Le Tanneur recapitalization of 13.3 million euros backed by Tolomei
June 23, 2017 / 6:46 AM / 3 months ago

BRIEF-Le Tanneur recapitalization of 13.3 million euros backed by Tolomei

June 23 (Reuters) - LE TANNEUR ET CIE SA:

* ANNOUNCES THAT HAVE ENTERED INTO EXCLUSIVE NEGOTIATIONS TO RECAPITALIZE AND GROW LE TANNEUR FOR AN AMOUNT OF AT LEAST EUR 13.3 MILLION

* ENTERS NEGOTIATIONS WITH QATAR LUXURY GROUP - FASHION S.P.C. ITS MAJORITY SHAREHOLDER, AND TOLOMEI PARTICIPATIONS

* PROPOSED SIMPLIFIED TENDER OFFER AT A PRICE OF 2.5 EUROS PER SHARE

* QLG HOLDS 85.6% OF THE SHARE CAPITAL AND 92.0% OF THE VOTING RIGHTS OF LE TANNEUR

* AS A RESULT OF THE RECAPITALIZATION AND GROWTH PLAN, TOLOMEI WOULD BECOME THE MAJORITY SHAREHOLDER OF LE TANNEUR Source text for Eikon: bit.ly/2t1jrzg Further company coverage: (Gdynia Newsroom)

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