Creditors Take Over EQT’s French Nursing Home Operator Colisée

Senior lenders to Colisée Group SAS are taking over the company from current sponsor EQT AB in exchange for writing off some of the French nursing home operator’s debt.

Colisée has secured approval from nearly all of its financial creditors for a restructuring which will see total net debt decrease by around a third to €1.2 billion ($1.4 billion), according to a statement. Bloomberg News reported in September that the company was set to be taken over by creditors.