SoLocal announced on Tuesday that it had obtained the approval of almost all its bondholders for its proposed amendment to the accelerated financial safeguard plan.

In a press release, the local information group, which is the subject of a binding takeover offer from Ycor, Maurice Lévy's private equity fund, points out that the single bondholders' meeting held yesterday approved the plan by 99.8% of the votes cast.

The project will now be put to a shareholder vote at a general meeting scheduled for June.

As a reminder, last week Solocal signed an agreement in principle with Ycor, its lenders, bondholders and main shareholders, with a view to reducing its debt and ensuring the company's long-term viability.

Following the planned operations, the group would be controlled by Ycor, and its current shareholders would be massively diluted, as their existing shares would represent less than 1% of the capital.

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