News release originally appears at Reuters

Evolva aims to raise around 80 million Swiss francs ($82.42 million) in two capital increases this year and may boost debt financing to meet its contractual obligations with partner Cargill, the money-losing sweetener maker said on Monday.

As a first step, Swiss asset manager Pictet and British investment firm Cologny would acquire a total of 68 million shares, Evolva said, boosting Pictet’s holdings to 10 percent and giving Cologny a 5 percent stake. The increase would total about 27 million Swiss francs ($28 million).

In a second step, Evolva plans an extraordinary general shareholder meeting on Oct. 26 to vote on a…

See the entire news release.