Piaggio to pay 70 mln euros cash to ex-Aprilia bank creditors, shareholders
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MILAN (Thomson Financial) - Piaggio SpA said its board on Wednesday decided to pay about 70 million euros in cash to former bank creditors and shareholders in Aprilia, a motorbike company Piaggio
The payment comprises 63.9 million euros for 9,959 Piaggio 2004-2009 warrants held by the Aprilia bank creditors and 6.5 million for instruments for ex-Aprilia shareholders, it said.
Piaggio board has decided to pay off the warrants in cash, rather than issuing Piaggio shares — which is an available option.
The payment will be made by July 3, the company said, with officials adding that it already was planned by the company.
Ten thousand of the warrants were issued and the remaining 41 outstanding warrant holders have not asked to be reimbursed, officials said.
