Of more than USD 315 million
Partouche agrees debt repayment plan
2014-04-07
Reading time 22 seg
(France).- Groupe Partouche confirmed it has had its debt repayment plan approved by creditors. France’s number two operator with 49 casinos has debts of more than USD 315 million to pay, with US investment fund Oaktree its biggest creditor.
The agreement was reached unanimously earlier after nearly six months of discussions between the company’s administrators, legal counsel and bank, Bank Lazard.
The courts had originally given Partouche the option of waiving its debt repayments for six months from September 2013 and give it time to build a plan with its creditors to pay off its debt.
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