Letterone and Santander sign an agreement in extremis to save Dia

Letterone and Santander sign an agreement in extremis to save Dia

At the end of time to be doomed to urge the pre-contest of creditors, Dia finally found a board of salvation. The maximum shareholder of the supermarket chain, the Letterone fund, reached an agreement with Banco Santander on the group’s debt, clearing the way for the Russian investor to inject the money that would take […]

Spain, Dia Council supports Fridman’s bid

Spain, Dia Council supports Fridman’s bid

The board of directors of Dia has shown a favourable and unanimous opinion to the Public Offer of Acquisition (OPA) presented by LetterOne, a company controlled by the Russian investor Mikhail Fridman, with more than 29% of the capital of the supermarket chain. Specifically, the highest governance body of the company has informed the National […]

DIA: A calendar to not get lost in Fridman’s bid

DIA: A calendar to not get lost in Fridman’s bid

The team of Letterone, formed by the men of maximum confidence of Mikhail Fridman, knew from beginnings of the week that the National Commission of the Market of Values ​​(CNMV) would authorize the takeover on DIA faster than anticipated. The executives of the Luxembourg fund were in London, the city where the European headquarters are […]

DIA extends the closing hours

DIA extends the closing hours

The distribution chain DIA has begun to extend schedules in testing phase in some of its supermarkets under the banner La Plaza, while it has decided not to continue with a pilot project launched with BP gas stations. Thus have informed sources of the company that have specified that in the case of the establishments […]

Dia reduces the Employment Regulation File (ERE)

Dia reduces the Employment Regulation File (ERE)

The supermarket chain Dia has reduced again the Employment Regulation File (ERE), which would now affect 1,337 employees, 35% lower than the 2,064 workers originally planned, according to the unions. Since Fetico and UGT have insisted on “minimize” this figure while waiting for the possible sale of stores and the sub-retirement of its employees with […]

Fridman adds support to overthrow the DIA council

Fridman adds support to overthrow the DIA council

Six days for the shareholders meeting of DIA and Mikhail Fridman who is optimistic that his plan, gets 70% of the remaining capital to 0.67 euros per share, which is equivalent to stay with the supermarket chain for 296 million euros. Financial sources explain that their proposal, which would entail a further extension of 500 […]

Fridman (LetterOne) believes that Dia should open thousands of stores in Brazil

Fridman (LetterOne) believes that Dia should open thousands of stores in Brazil

LetterOne is gaining ground. The investment vehicle of Russian tycoon Mikhail Fridman received on Monday the ‘yes’ of the Brazilian competition authorities to his takeover on Dia. Green traffic light in a country “very relevant” for the company. So much so that, in the eyes of the fund, Dia should open “thousands of stores” in […]

The shareholders’ meeting of Dia will vote on the extension of 500 million Fridman

The shareholders’ meeting of Dia will vote on the extension of 500 million Fridman

LetterOne, a company contracted by Russian investor Mikhail Fridman, has requested that the proposed capital increase of 500 million euros foreseen in its takeover bid be put to the vote at the shareholders’ meeting of Dia. Dia announced, through a statement sent to the National Securities Market Commission (CNMV), LetterOne has requested that this vote […]