Luxembourg, 15/05/2007 (Agence Europe) - Last week, the European Investment Bank (EIB) announced its decision to take part in the Eurotunnel share exchange offer.
The EIB has supported the Eurotunnel project, a major part of the trans-European transport network, from its very beginning. Recently, aware that Eurotunnel had to reduce its debt burden, the EIB participated actively in the financial restructuring negotiations which led to the current restructuring plan. The EIB voted in favour of the restructuring plan, accepting the conditions and implications for the reduction in its own debt claims. As a result of earlier restructurings, the EIB holds about 60 Eurotunnel shares (about 2.3% of the total). Today, with Eurotunnel having to meet a crucial deadline, the EIB has announced in a press release that, in a concern for transparency, it “will now accept the offer to exchange these shares into shares of GET S.A., a key step in the implementation of the restructuring plan”. The EIB also plans to make a contribution to this crucial stage in the implementation of the Safeguard Plan. (ol)