Caisse des dépôts will take control of Orpea

A group of investors led by the Caisse des dépôts (CDC) will take control of the group of retirement homes in difficulty Orpea, following a restructuring operation of its debt, according to a press release published on Wednesday.

An agreement in principle, approved by Orpea, the group led by the CDC and creditors, plans to erase 3.8 billion euros of debt by converting it into capital and to inject 1.55 billion euros of capital additional. At the end of the process, the CDC will hold 50.2% of the capital of Orpea, the creditors 49.4% and the current shareholders, if they decide not to participate in the capital increases which will be open to them, 0, 4%.

>> More information to follow…