At December's annual general meeting, the board of French group Bonduelle vote on the merger of 'civil companies' l'Angevine, La Houssaie, SC Precarrere and La Marjolaine, companies that currently hold shares in Bonduelle and would subsequently be absorbed by the group.
'The aim of these transactions is to simplify the management and structures currently in place,' the company said in a statement.
The move would result in the issuance of 448,746 new ordinary shares priced at €7, an increase in capital of €3.1m to €59.1m.
The board will also decide on a capital reduction by cancelling treasury shares received as part of the merger, a move that would bring the capital back down to €56m to avoid diluting the shares of current shareholders.
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