• Most Popular
  • Most Shared

Russian retailer Dixy to get $200 mln loan

Mon May 5, 2008 5:16am EDT

Stocks

   

MOSCOW, May 5 (Reuters) - Russian food retail chain Dixy (DIXY.MM) plans to take out a five-year syndicated loan worth up to $200 million, the company said on Monday.

Russia

Dixy said in a statement the loan, arranged by Citibank, will have an interest of not more than LIBOR plus 4.5 percent.

The deal is subject to shareholder approval at a June 9 meeting, Dixy said, adding it would offer 367.16 roubles ($15.52) per share to buy out shareholders who do not vote or vote against the deal.

Dixy's stock was up 3.85 percent at 348 roubles by 0830 GMT.

The retailer is majority owned by diversified holding company Mercury, which agreed to buy the chain from its founder, Oleg Leonov, in December last year. (Writing by Maria Kiselyova; Editing by Quentin Bryar)

Russia


More from Reuters

Afghan insurgents kill CIA agents, Canadians

KABUL (Reuters) - Insurgents intensified their campaign against military targets and U.S.-led forces in Afghanistan, killing eight U.S. CIA agents at a base and four Canadian servicemen on patrol and a journalist accompanying them.

» More Top News
Floor traders work at the Hong Kong Stocks Exchange, January 16, 2008. REUTERS/Bobby Yip

My way or the highway?

Hong Kong is poised to accept Beijing's accounting standards. That's good. The system, though, is prone to scandal. That's bad.  Full Article 

Global Markets
People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid
Rolfe Winkler:

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article 

    Commentary