PARIS, Feb 1 (Reuters) – French nursing care homes company Orpea SA (ORP.PA), whose shares lost more than 90% in value last year after charges of malpractice at its homes, said on Wednesday that in principle it had reached a financial restructuring deal with investors.
Orpea said the deal, reached with French state financial institution Caisse des Depots & Consignations (CDC) and other investors, would significantly cut its debts by around 3.8 billion euros ($4.13 billion) and give the company a cash equity injection of 1.55 billion euros.
The main group of investors would hold around 50.2% of Orpea’s capital and unsecured financial creditors would own 49.4%, Orpea said in a statement.
Orpea’s shares fell by around 93% in 2022 following t…
Read the full article at: https://www.reuters.com/business/frances-scandal-hit-orpea-reaches-restructuring-agreement-2023-02-01/