Emeis - comment

Emeis has announced the completion of its refinancing process, which began in November. The refinancing extends the Company’s debt maturities and, importantly, includes a request for an early exit from the accelerated safeguard plan. This request is expected to be filed with the Nanterre courts in the coming weeks.

The completion of the refinancing also removes the principal obstacle to the establishment of a new real estate entity, as outlined by the Company in September. The transaction is expected to close in early 2026. The new entity will be funded by Farallon Capital as lead investor, alongside TwentyTwo Real Estate, which will invest c. €761m, representing 62% of the vehicle’s value. Emeis will be the junior partner and will remain the operator of all assets. Despite its minority economic interest, Emeis will retain control of the vehicle, which will be fully consolidated. The partnership is structured for an initial term of 5 years, with an option to extend for a further 2 years.