Despite lower debt, Zouari struggles to take control of Picard

Featured image of the article Despite lower debt, Zouari struggles to take control of Picard

An article by Morgane Monteiro

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Publication

12 July 2024 à 18h18

Updated on 15 July 2024 à 16h59

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Publication: 12 July 2024 à 18h18, Updated on 15 July 2024 à 16h59

Reading time: 1 minute

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An article by Morgane Monteiro

Ajouter mind Retail à vos sources
Publication

12 July 2024 à 18h18

Updated on 15 July 2024 à 16h59

Reading time

1 minute

Publication: 12 July 2024 à 18h18, Updated on 15 July 2024 à 16h59

Reading time: 1 minute

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On June 26, Picard’s debt (€1.8 billion in sales in 2023, up by 5.9% in one year) was re-negotiated and reduced by shareholders. These are a British investment fund Lion Capital (51%) and a Zouari‘s family office (49%). According to La Lettre, with €208 million in cash and a reduction in fixed rates to €667 million and variable rates to €588 million, Picard’s gross debt has been reduced from €1.71 billion to €1.56 billion. Negotiations were led by Morgan Stanley and Goldman Sachs. The Zouari fa

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Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

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