Luc Besson’s EuropaCorp Confirms Discussions With Vine Alternative Investments – Update

  • Deadline
Luc Besson’s EuropaCorp Confirms Discussions With Vine Alternative Investments – Update
Updated with EuropaCorp statement: Luc Besson’s embattled EuropaCorp has responded to a report in French weekly, Le Journal du Dimanche, which said on Sunday the studio was entering a deal that would see NY-based Vine Alternative Investments come to its rescue. In a statement provided to Deadline, Europa confirmed discussions “with several financial partners including the group Vine, as part of the restructuring of its debt and the strengthening of its financial capacity.”

Vine, Europa said, “has expressed interest in a potential stake in the capital of the company” and talks are ongoing. As of March 31, EuropaCorp’s net debt stood at $181M. In May, the company was granted a six-month debt waiver to give it time to balance the books. Vine would be expected to convert Europa’s debt into capital shares.

A rescue deal between Europa and Vine was reportedly hatched on July 3 in the office of the French judicial administrator.
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