The hedge funds department private companies in the French shares owned

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More than ten stalled companies revolve in France, where a series of economic shocks pushing increasing numbers of companies towards the painful restructuring.

Consultants restructuring and troubled debt investors said they were watching medium and large companies, often owned by them. Private property rights Groups.

Two of EQT portfolio companies, Care Home Colisée and laboratory operator, either restructuring their debts or at risk of doing so. People familiar with the cases said that the Partners Group is Emeria and APOLLO payment operator is among the other disposable -shares of private stock companies that are at risk of restructuring.

“Between 15 and 20 names are monitored,” said one of the bankers.

“In Paris, there is no week without a debt box in the United Kingdom or the United States to see us,” said Olivier Sebinaller, an expert on Alixpartners. “It has already started since the beginning of the year.”

Emeria, Ingenico, Colisée, EQT and Partners Group rejected the comment. Cerba did not respond to the comment.

Debt problems are a reflection of the challenges in the French economy. According to the Bank of France, the bankruptcy of business in France is at its highest levels since the records began in 1991.

Companies all over Europe are struggling with high levels of debt and lack of money to pay high interest rates when re -financing.

But the situation is particularly severe in France, where there is a relatively large number of companies with large piles in particular for debts in the weak sectors such as retail and communications, as well as the effect of catching a knee from the Covid-19s of the Covid-19 when many companies were protected by toxic loans from the state backed by the state.

The number of summonses – when private stock groups get companies that use large amounts of debt – much higher in France than anywhere in Europe. There have been 4,675 pounds in France since 2015, compared to 2,786 in Germany and 1749 in Italy, according to Professor Oliver Jochgl’s analysis.

Celine Domengit Mourin, a lawyer for restructuring in Paris in Will, Guccall & Mansad, said the companies had confronted “trauma reproduction.” And they said: “You can get the first (shock) and the second and then, when a third comes, you can no longer take it.”

The organizational changes that were implemented in 2021 also affected how to restructure. France has adopted European insolvency legislation, which has greatly weakened the hand of shareholders compared to previous legislation.

The process leads to more hostile settlements among creditors, as some lenders can now force others to restructure deals through a process known as “Cramdown via degree”.

Sibenaller said the changes provided a “tool” that made France a more attractive position for some international credit investors.

Hedge funds that invest in troubled debt, which are often based in the United States and the United Kingdom, can obtain shares in troubled companies by converting their debts to property rights through the restructuring process.

“We are closely watching France,” said an investor in a European credit hedge fund. “There is a lot to do there,”

France has already had a series of prominent restructuring situations in recent years, including retail seller casino, welfare provider and Telecoms Altice. Creditors are preparing for Patrick Drahi’s Altice USA for another round of restructuring, while casino debts have drowned to very sad levels after a little more than a year after a restructuring of 5 billion euros.

After this great restructuring of listed companies, many companies owned by private stock groups have become increasingly exposed.

Bloomberg data shows that some traditional credit investors who threw Colacy debts. “The hedge boxes will be blocked on the other side of these transactions,” said one of the high bond investor on the other side of these transactions.

The debts of the CERBA medical laboratory group are also traded at troubled levels after exacerbation. CERBA bonds are traded at 76 cents on the euro, while their unacolical debts are traded by about 22 cents on the euro, where the lenders expect heavy losses.

Participated in additional reports from Alexandra Hill