Seat Pagine: Lighthouse notes converted to shares; merger approved

By Caroline Salls

Pittsburgh, Aug. 23 - Seat Pagine Gialle SpA said Lighthouse International Co. SA has converted its convertible notes into Lighthouse shares in accordance with a consent solicitation launched on Aug. 1.

According to a Seat Pagine news release, a Lighthouse shareholders' meeting approved the merger by absorption of Lighthouse into Seat Pagine following the share conversion.

As previously reported, amendments were made to the terms of the indenture governing Lighthouse's €1.3 billion of 8% senior notes due 2014 on Tuesday.

The company said the conversion into shares of the convertible notes issued by Lighthouse and the approval of the merger represent further important steps to implementing the restructuring of Seat Pagine's financial debt.

Seat Pagine Gialle is a yellow pages company based in Torino, Italy.

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