Posted on Nov 16, 2020 at 4:58 p.m.Updated Nov 16, 2020, 5:46 PM
With 3.7 billion euros in debt, one of the heaviest liabilities in financial restructuring in France, Vallourec will not escape a drastic cure. A little more than a month after having opened negotiations with his creditors, the former star of the rating is worth only 230 million euros on the stock market and is preparing to cede control to them.
From corroborating sources, the industrialist led by Edouard Guinotte communicated his business plan last week to his creditors, including the Anglo-Saxons Apollo, M & G or even SVP, who came to buy the debt at a cleared price from the banks. traditional group in recent weeks. Only two of them have not assigned their receivables, BNP Paribas and Natixis, corroborating sources.
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