(News Bulletin 247) – Orpea announced Thursday that it has postponed the deadline for its amicable conciliation procedure in order to be able to continue its discussions with creditors.
The procedure, which was initially due to end at the end of a four-month period, i.e. on February 25, has been extended for an additional month, i.e. until March 25.
This decision should allow the dependency care specialist to continue his discussions with the creditors who have not yet joined the ‘lock-up’ agreement, signed last week.
The group explains that it plans to present, during the month of March, a request to request the opening of an accelerated safeguard procedure in order to implement its financial restructuring.
As a reminder, on February 14 the company concluded an agreement with a group of long-term French investors led by the CDC, accompanied by CNP Assurances, and also including MAIF and MACSF, as well as with five institutions holding debt not secure.
The process of joining the ‘lock-up’ agreement now aims to obtain, between now and the opening of the accelerated safeguard procedure, the support of as many unsecured creditors as possible.
The title fell by more than 4% Thursday morning on the Paris Stock Exchange in the wake of these announcements.
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