Exail and investor ICG clash over bond valuation as debt deadline nears

Exail Technologies SA

11/06/2026 18:20

June 11 (Reuters) - French drone maker Exail EXA.PA said on Thursday it had not reached agreement with financial investor ICG over the valuation of a potential redemption and repurchase of bonds and preference shares held by ICG in subsidiary Exail Holding.
Exail seeks to refinance its debt this year. It said in a statement that an independent firm had valued ICG and minority shareholders' bonds and shares, which Exail wants to buy, at around 710 million euros ($817 million), while ICG has argued for a valuation based on Exail’s current stock market price, implying a total of about 1.1 billion euros.
Exail said discussions were ongoing. 
     
($1 = 0.8688 euros)

 (Reporting by Jakob Van Calster and Zakarya Meliani; Editing by Susan Fenton)
 ((jakob.vancalster@thomsonreuters.com))