Brief: Pierre & Vacances Requests For Opening Of Accelerated Safeguard Procedure

Pierre Et Vacances SA

25/05/2022 17:30

May 25 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * UPDATE ON THE PIERRE & VACANCES – CENTER PARCS GROUP
RESTRUCTURING PROCESS
    * ON MAY 24, 2022, FINEXSI DELIVERED ITS INDEPENDENT EXPERT
REPORT
CONCLUDING TO FAIRNESS OF FINANCIAL TERMS OF RESTRUCTURING
TRANSACTIONS FROM POINT OF VIEW OF COMPANY'S SHAREHOLDERS
    * FINEXSI REPORT: IN CONTEXT OF CO'S CURRENT FINANCIAL
DIFFICULTIES, WE BELIEVE THAT, AS OF DATE OF THIS REPORT, TERMS
OF TRANSACTION ARE FAIR FROM FINANCIAL POINT OF VIEW TO
SHAREHOLDERS
    * FINEXSI REPORT: INDEPENDENT EXPERT HAS USED A
MULTI-CRITERIA
VALUATION, OF WHICH DCF CRITERIA, RETAINED AS MAIN ONE, REFERS
TO A THEORETICAL VALUE COMPRISED BETWEEN EUR 2.00 AND EUR 2.22
PER SHARE WITH A CENTRAL VALUE OF EUR 2.10
    * TODAY, MAY 25, 2022, REQUEST FOR OPENING OF AN ACCELERATED
SAFEGUARD PROCEDURE IN FAVOR OF COMPANY WAS FILED WITH PARIS
COMMERCIAL COURT
    * OPENING JUDGMENT IS NOW ANTICIPATED FOR MAY 31, 2022

Source text for Eikon:  ID:nBw933l8sa 
Further company coverage:  PVAC.PA 

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