Lafarge to avoid Saint Gobain’s troubles in Eu1.5bn recap

April 01, 2009 12:00 am

French materials business Lafarge is trying to avoid the same troubles as its peer Saint Gobain, which saw its shares drop 30% when it launched its rights issue in February. Lafarge said it has secured support from two of its key shareholders when it made public its rights issue terms today. The company is offering shares at a 50% discount to yesterday’s closing price but is the 4% share price drop today an early indicator of trouble ahead? Read EuroWeek on Friday

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