Prisa Boardroom Fight Heats Up With New Capital Increase

Prisa, the Spanish media and textbook group immersed in a boardroom fight, concluded a capital increase equivalent to about 10% of its stock as part of a debt refinancing deal.

The issuance aims to “cancel via own resources Prisa’s junior debt tranche” of about €40 million, Promotora de Informaciones SA, as the company is officially called, said in a filing Tuesday, when it announced the plan to issue shares. The offering, which was done through a private placement with new investors, has now being finalized, according to a seperate filing Wednesday.

Chairman Joseph Oughourlian is seeking to ...