Technicolor says JPMorgan to take stake

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May 3rd, 2012, 01:00 AM

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Technicolor says JPMorgan to take stake

PARIS (Reuters) - Technicolor said U.S. bank JPMorgan Chase plans to take a stake of up to 29.96 percent in the French digital video specialist to help it cut debt and push through its turnaround plan. The transaction will take place through a twin capital increase, the first tranche reserved for JPMorgan and the second also open to existing shareholders. JPMorgan has committed to buy up to three-quarters of the second issue, Technicolor said. ...

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