Next March, the company will present its 2025-2029 strategic plan in which it will seek to grow in both Spain and Argentina.
In Argentina the company has more than 1,000 stores, the vast majority franchises.
DAY
The retail firm Dia, with a strong presence in Spain and Argentinaannounced that it managed to close a debt refinancing agreement for 885 million euros that will help the company to reinforce its capital and face the 2025–2029 Strategic Plan that it will launch next March.
In the words of Martín Tolcachir, Global CEO of Grupo Dia: “This refinancing agreement demonstrates the trust of the financial community in the company and the success of the business transformation. We advance with a firm step forward. With this operation, we have the basis to promote our growth plans in the coming years. The performance improvement has been possible thanks to the excellent work of our team and our network of franchisees. “I am deeply excited that the company is inaugurating a new stage of accelerated growth.”
Grupo Dia advances in the 2025-2029 Strategic Plan
The key fact is that with the new agreement, the maturity of the company’s debt is extended to a maximum of five years and its level of liquidity increases.
The funds obtained in this operation will be used for different strategic purposes. Firstly, they will allow the full repayment of the current financing, which includes the financial debt associated with the syndicated financing contracts signed on December 31, 2018, the debt of the bonds issued by the company and the bilateral financing line.
On the other hand, cWith the objective of boosting the liquidity of the group’s shares and their long-term performance, the Board of Directors has agreed to propose to the General Shareholders’ Meeting the approval of a share grouping operation (Contra Split), applying an exchange equation of 1,000 pre-existing shares for a new one, raising the unit nominal value from 0.01 euros to 10.00 euros. With this Contra Split, it would be possible to place the trading price of Dia’s share at a value that is in line with comparable listed companies in Spain and abroad, in addition to favoring the transfer of the improvement in financial and operational results to the share value.
long ago, Grupo Dia faced a strong restructuring process not only to clean up its finances but also to focus its business strategy towards the most convenient markets. In this framework, it divested itself of its operations in Brazil and drew up a plan to grow in Spain and Argentina that is bearing fruit.
locallyDia is the first franchised supermarket chain in Argentina, operating more than 1,050 stores, of which 76% operate under this modality.. This reveals that 7 out of every 10 customers who enter a Dia store buy from a franchise. This model constitutes one of the company’s drivers for its expansion and consolidation as a proximity leader. Not only does it generate employment, with more than 4,500 indirect jobs, but it also offers an accessible and profitable business opportunity for local entrepreneurs.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
