SOS In Position To Grow If It Can Successfully Restructure Capital Base

Spanish olive oil producer SOS Corporacion Alimentaria has laid out plans to restructure its capital base as it seeks to tackle its sizeable debts. As part of the plans the firm hopes raise EUR200mn by issuing new shares. Around EUR120mn of the money raised will be used to repay debt, while EUR80mn is to be used to develop the business. The firm has also said it wants to convert a large proportion of its current debt into shares, with EUR237mn of debt held by private investors and EUR159mn of bank credit converted into

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