Solocal Group continues its financial restructuring process with the examination of two offers, each proposing a massive reduction in the group's debt and an injection of liquidity.

The first offer comes from bondholders and provides for a cash injection exclusively in debt. The second offer comes from Ycor and combines capital contributions and industrial synergies.

' The Company supports Ycor's offer, which is the only proposal, at this stage, likely to ensure its long-term viability, and which can be implemented with the support of the senior lenders (RCF)' says management.

Solocal Group will formally consult the Single General Meeting of bondholders on the implementation of Ycor's offer via the amendment of the current safeguard plan.

' Ycor's offer, in addition to proposing a substantial reduction in the debt whose weight had become overwhelming and securing the Group's liquidity, should enable Solocal to benefit from the solutions and expertise developed by this player over several years and to generate synergies within a short time horizon ' said Cédric Dugardin, CEO of Solocal.

' If the offer is ultimately accepted, Ycor would become the group's majority shareholder, which would logically have to undertake a new strategy and reorganization of the group. It would hold 76% of the capital," says Oddo BHF.

' It is likely that the group will be delisted, given the dilution of existing shareholders (1% of the capital in fine). An IPO would be quite possible in our opinion' adds the research firm.

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