Vértice 360º completes its debt programme -
Vértice 360º completes its debt programme
Iñaki Ferreras ©RapidTVNews | 05-06-2012
Leading Spanish production house Vertice 360º has completed the restructuring process of its debt and after cancelling existing shares under the divestiture agreement reached with the Catalan company Grupo Lavinia.
Last February 28th, the company informed the CNMV (the Spanish national public association for the financing of the companies) that it would buy 13.5% of its own capital currently held by Lavinia, in order to extricate itself from the firm and suspend the integration agreement that both reached in July 2010.
In March 2012, Apex bought 45% of its own shares held by Narval, owner of Lavinia, who owned 13.5% of its capital, while buying the remaining 55% was subject to authorisation by the Inland Revenue and the conditions were met as the maximum limit of treasury shares.
In this sense, the media group had pledged 100% of the shares of Lavinia Interactiva as security for a debt and that on 30 May proceeded to cancel.