EuropaCorp has confirmed that it is in talks with French film company Pathé SAS over the latter's potential stake acquisition in the Luc Besson-owned company.
The talks between EuropaCorp and Pathé are not yet final and remain subject to certain conditions, such as an agreement on the restructuring of EuropaCorp's existing debts and the consent from lenders.
EuropaCorp is also in discussions with its creditors in relation with debt restructuring and potential capital increase.
The current talks on a potential deal follows a recent move by the debt-ridden company to enter into a safeguard proceeding that would allow for its equity and debt restructuring while continuing its operations. The outcome of the process has yet to be revealed.
In 2018, Netflix Inc. was also reportedly in advanced deal talks with EuropaCorp.