DIA successfully completes €605 million capital increase
November 20, 2019
This is one more successful step in strengthening the Company’s capital structure led by L1 Retail. Market endorsement demonstrates investor confidence in Company’s future.
DIA will be focused on carrying out its ambitious recovery plans over the next three to four years.
DIA completes its capital increase by capturing 605 million euros in the market, which reflects the investors’ endorsement of the Company and its growth plans, underlining the confidence that market has in DIA’s future.
The Company is now able to focus exclusively on the challenge of the turnaround of the business. A project that has the confidence and support of L1 Retail and the entire management team of the Company, it will be focused over the next three to four years on improving operations and developing a modern proximity concept that is sustainably profitable and makes a valuable contribution to the evolution of Spanish food retail.
“I would like to thank our investors for the interest and support they have shown in DIA by investing in the Company at this stage and accompanying us on our turnaround journey. It is, without a doubt, a demonstration of confidence that the markets have for our vision in which we all firmly believe and are fully committed to making a success. The Board of Directors has full confidence that the CEO, Karl-Heinz Holland, and his entire team will carry out the transformation that DIA needs to create a differentiating and value-added offer for our customers”, said Stephan DuCharme, Chairman of DIA Group.
“I would like to join our Chairman in thanking our shareholders for their belief in our future and support. All of us who are building DIA must be totally focused on the recovery and turn- around of the Group. It is now for every single employee in the different areas of DIA and across all our markets who must work hard and contribute with our experience, knowledge and responsibility to the future success of DIA”, commented Karl-Heinz Holland, CEO of DIA Group.