The Lagardère group, whose turnover is battered by the health crisis and contested governance, was granted a state guaranteed loan of 465 million euros, according to the Official Journal on Sunday.
The mention states: "
The State guarantee is granted to establishments BNP Paribas, Caisse Régionale de Crédit Agricole Mutuel de Paris et d'Ile-de-France, Commerzbank, Aktiengesellschaft, Paris Branch, Crédit Agricole Corporate and Investment Bank, Crédit Lyonnais, ING Bank NV, French Branch, Natixis, Société Générale, UniCredit Bank AG, for the loan mentioned in article 2 of this decree, granted to the Société en commandite par actions Lagardère SCA
The State guarantee covers 80% of the amount of the loan, granted on December 18.
Read also: 2020, the year Arnaud Lagardère lost his empire
The group, led by Arnaud Lagardère and owner of the publisher Hachette, the Relay stores and even the media Europe 1,
Journal du Dimanche
, recorded third quarter sales down 38%.