Orpea: talks fail between CDC and creditors
(CercleFinance.com) - Orpea announces that it has stopped its negotiations with a consortium of third party French investors led by the Caisse des Dépôts et Consignations (CDC) and a group of unsecured financial creditors holding approximately 50% of its unsecured debt.
The company will nevertheless continue its discussions with the group of unsecured financial creditors whose support is necessary to reach an agreement on a restructuring plan in line with its proposal of 15 November last year.
The dependency care group says that this proposal provides for the capitalisation of 3.8 billion euros of unsecured debt and a capital increase of between 1.3 and 1.5 billion euros.
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