Floridienne to Repay Debt, Invest in Research, Le Soir Says
By Aoife White -
2011-05-14T10:34:20Z
Floridienne SA (FLOB) will repay debt and invest in research with proceeds from the February sale of a stake in MCP Group SA, Le Soir reported, citing Chief Executive Officer Gaetan Waucquez.
Floridienne will have no net debt by the end of this year after receiving 43.6 million euros ($61.6 million) from 5N Plus Inc. for the 42 percent stake in MCP, the world’s largest maker of bismuth chemicals, Waucquez told the newspaper. It will also receive 26.1 million euros in instalments from 2012 and 2014 and 5 million 5N Plus shares.
To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net.
To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.
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