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.