June 25, 2019 / 8:16 PM / 5 months ago

Spain's DIA announces new financing plan with creditors

MADRID June 25 (Reuters) - Spain’s struggling supermarket chain DIA reached a new deal with its creditors, the company said in a statement on Tuesday.

DIA said it would propose raising the planned capital increase from 500 million euros ($569 million) to 600 million euros at the upcoming AGM.

The company’s biggest shareholder, investment fund LetterOne, will inject 490 million euros in DIA through a participating loan, which will be repaid to LetterOne with the proceeds of the capital increase, DIA said. ($1 = 0.8795 euros) (Reporting by Sam Edwards Editing by Susan Thomas)

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