(CercleFinance.com) – IDSud announces the sale, off and on the market, of 543,300 shares of Française des Jeux (FDJ), or 0.28% of the capital of the gambling operator, for a price of total sale of just over 18 million euros (i.e. an average price per share of 33.18 euros).
The management board, in agreement with the supervisory board, has decided to partially allocate the net proceeds from the sale to the reconstitution of IDSud’s equity as well as to the reduction of its financial debt.
‘The cost of debt indexed to EURIBOR, fueled by uncertainties linked to the macroeconomic and international context, made it necessary to reduce debt,’ explains IDSud, which retains 1.46% of the capital and 1.94% of the rights vote of the FDJ.