May 3, 2018 / 12:42 PM / 17 days ago

BRIEF-Axactor Optimizes Structure Of Investment Partnership With Geveran

May 3 (Reuters) - AXACTOR AB (PUBL):

* AXACTOR OPTIMIZES STRUCTURE OF INVESTMENT PARTNERSHIP WITH GEVERAN

* AXACTOR AB AND GEVERAN TRADING CO. LIMITED HAVE AGREED TO OPTIMIZE STRUCTURE OF THEIR INVESTMENT PARTNERSHIP INITIALLY ANNOUNCED ON 14 AUGUST 2017

* REOLUX WILL BE CARVED OUT AS A SEPARATE JOINT VENTURE OWNED 50/50 BY AXACTOR AND GEVERAN

* REOLUX WILL BE CAPITALISED WITH EUR 40 MILLION IN EQUITY

* AXACTOR WILL GRANT REOLUX A LOAN OF APPROXIMATELY EUR 126 MILLION,

* AXACTOR WILL GRANT REOLUX A LOAN OF APPROXIMATELY EUR 126 MILLION, WHICH WILL BE APPLIED BY REOLUX TO REPAY A LOAN FROM LUXCO INVEST

* FOLLOWING RESTRUCTURING LUXCO INVEST WILL NOT HOLD ANY INTERESTS IN REOLUX

* LUXCO INVEST WILL IN TURN APPLY THESE FUNDS TO REPAY EUR 80 MILLION OF EUR 120 MILLION SUBORDINATED LOAN NOTES PREVIOUSLY PROVIDED BY AN AFFILIATE OF GEVERAN

* RESTRUCTURING IS EXPECTED TO BE IMPLEMENTED IN NEAR TERM Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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