It's the end of a long soap opera.
Orpea will pass under the control of the Caisse des dépôts, the armed financial arm of the State.
In a press release published on Wednesday, the group of private nursing homes, heavily indebted, announces that an agreement in principle on a financial restructuring plan has been reached between the company, "
a group of long-term French investors led by the Caisse des Dépôts et Consignations, accompanied by CNP Assurances, and also including MAIF, accompanied by MACSF
" and "
and a group of unsecured financial creditors holding approximately 50% of the Company's unsecured debt, in the amount of 3.8 billion euros
”.
This agreement plans to erase 3.8 billion euros of debt by converting it into capital and to inject 1.55 billion euros of additional capital.
According to this agreement, the group led by the Caisse des dépôts (CDC) will inject 1.355 billion euros into Orpea, to become the majority shareholder with approximately 50.2% of the capital.
The creditors will hold 49.4% and the current shareholders, if they decide not to participate in the capital increases which will be open to them, 0.4%.
Read alsoOrpea, a giant struck down by a journalistic investigation
According to Victor Castanet, author of the investigative book
Les Fossoyeurs
, who denounced the mistreatment of residents of Ehpad Orpea and the financial embezzlement of former leaders, "
the takeover of Orpea by the Caisse des dépôts could mark a turning point in the group history.
And maybe from the sector
.
“
If the CDC keeps its commitments, the profitability requirements will decrease.
This should ultimately improve living conditions in nursing homes
, ”he reacted on Twitter.