Pierre et Vacances: extension of the exclusivity agreement concluded with Alcentra-Fidera-Atream

(AOF) – As part of its backing process, Pierre et Vacances, the listed holding company of the Pierre & Vacances-Center Parcs group, concluded on December 17 an exclusivity agreement until January 31, 2022 with a group of investors made up of Alcentra Limited (also financial creditor of the PVCP group), Fidera Limited (also financial creditor of the PVCP group), and Atream (also institutional lessor of the PVCP group).

This exclusivity agreement follows the submission of a firm offer by the investors on November 8, 2021, amended on November 23, 2021, which was extended until January 31, 2022 as part of the signing of the exclusivity.

In order to allow the finalization of the ongoing discussions and the conclusion of a firm agreement binding the parties concerned, the investors and the main creditors of the PVCP group, the investors have extended the firm offer to February 18, 2022 and the PVCP group and the investors correspondingly extended the term of the exclusivity agreement until that date.

In the meantime, the PVCP group confirms that it has obtained the opinions of the employee representative institutions concerned on the planned backing operation.

The PVCP Group will communicate further on the additional details of the firm agreement when it is concluded.

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