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Bouygues To Redeem €1.25B In Stock

Bouygues SA is seeking to redeem €1.25 billion in stock.

Bouygues SA is seeking to redeem €1.25 billion in stock, The Wall Street Journal reports. The company will repurchase shares at €30 apiece between October 11 and October 31, which is nearly 11.7% of the company’s outstanding stock.

The French building, television and telecom company will fund the buyback with its own cash and with outstanding credit lines. The Bouygues family, the company’s largest shareholder, will not sell any of its shares as part of the operation.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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