ENCE will increase its share capital by 130 million euros, by means of a rights’issue, in order to reduce debt and strengthen its financial structure.

The company has signed a placing and underwriting agreement with Banco Santander, BBVA and Caja Madrid as underwriters, who have been advised by PEREZ-LLORCA through partner Vicente Conde.

The issuer has been advised by Uría Menéndez through partner Fernando Calbacho and associates José María Oliva and Eva García Morales.

The capital increase has been approved by the CNMV (Spanish Securities Market Commission).  This will be the first placing of shares on the Spanish Stock market in 2010.