Panos’ parent company La Lorraine hopes to raise 40 million

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin-top:0cm;
mso-para-margin-right:0cm;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0cm;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}

40 to 75 million euro

The Belgium-based,
family-run business wants to alleviate
its debts and spur
growth in Central Europa, where it already has a firm basis. The group is
active in the milling and bakery sector and reached a turnover of 513 million euro last year It has eleven production sites in Belgium, Poland, the
Czech Republic and Romania, exporting to more than 25 countries, usually
through its own retail network.

The company, Enterprise of the Year
2012 in Belgium, is now giving investors a chance to buy bonds up until 13 December. The bonds are for 7 years and have a gross
interest of 4 %, leading to financial insiders to claim it is a “wise
decision to get cheap money for the company”, but possibly “not that interesting
for investors”, due to the “low interest rate for a longer period of time” and its
“low cash character”.

La Lorraine’s retail pilar, bread chain Panos, became Best Belgian retail chain in the
category “Food to Go” last week.

(Translated by Gary Peeters)