De Weide Blik, the holding company of leading European fresh produce group Univeg, has raised new capital through subordinated loans worth €192.42m euros thanks to the injection of profits by CVC Capital and Food Invest, owned by Univeg chief executive Hein Deprez, according to a report on Belgian news website De Standaard.
According to the report, were the group to be floated on the stock exchange in an IPO – a move apparently favoured by CVC Capital as an exit strategy, although this has so far not been confirmed by the company itself – then these profits would automatically converted into ordinary shares.
The article also quoted Mr Deprez as saying that employing such measures, whereby profits are converted into normal shares, are currently standard practice in the private equity sector.
He also added that the financial status of De Weide Blik has become more transparent.
