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Luc Besson's EuropaCorp Confirms Rescue Talks with U.S. Investment Group Vine

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Vine Alternative Investments, one of EuropaCorp's creditors, is eying an equity stake in Besson's troubled French production and distribution company.

Valerian and the City of a Thousand Planets, flopped at the U.S. box office, where it has grossed $7.5 million for Lionsgate/Summit. The company does not have any other films currently in production.

As of March 31, EuropaCorp’s net debt stood at $181 million. In May, the company was granted a six-month debt waiver to give it time to balance its books. Last month, the company posted a $125 million loss for the 2018-2019 financial year, Besson and his holding company FrontLine own 38 percent of EuropaCorp, with Chinese investors Fundamental Films holding 28 percent.See EuropaCorp's full statement below.

 

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