BRUSSELS Aug 26 Belgian PVC window frames maker
Deceuninck plans to raise 50 million euros ($66
million) in a private placement of new shares to fund the
purchase of Pimas in Turkey and future acquisitions.
Deceuninck said on Tuesday it would issue 26.3 million
shares at 1.90 euros apiece and that these were already
allocated to investors Gramo and Sofina, which would
respectively own 21.01 percent and 17.5 percent of the group
after the transaction.
Deceuninck's shares closed at 1.88 euros on Friday and were
suspended on Monday pending the announcement.
On Monday, the group said it would buy an 81 percent stake
in Turkish company Pimas for $26.5 million.
"The balance will enable Deceuninck to undertake further
strategic projects and investments in a consolidating industry,"
Deceuninck said in a statement.
($1 = 0.7569 Euros)
(Reporting by Robert-Jan Bartunek; Editing by Mark Potter)