Banks take unsubscribed shares in Dutch Laurus issue - Food Retailing - ABN Amro, ING Groep and Rabobank - Brief Article

Eurofood, August 1, 2002

Three Dutch banks, ABN Amro, ING Groep and Rabobank have taken up 81.1m [euro] worth of shares in troubled food retailer Laurus.

The three banks, which are also underwriting the deal have taken up the shares that have not been subscribed to through the exercise of subscription entitlements.

The share issue is part of the 400m [euro] rescue plan for the troubled Netherlands-based food retail group, a package also put together with French food giant Casino.

The French supermarket and hypermarket group has already taken up half of the Laurus share issue, paying some 200m [euro] for a 38.7% equity stake.