Holiday residence group Pierre & Vacances is to launch a capital increase worth ¬58m.
Gerard Bremond, the group’s chairman, commented: “This is the first time we have called upon the market”.
The operation is designed to “strengthen the financial structure of the group”, according to Mr Bremond, who confirmed that Pierre & Vacances would retain a 50% stake.
Le Figaro Economie 12 March 2002 p6
