Orco ends talks with Colony

Orco has announced that talks with Colony Capital about a financial injection have been terminated. The deal always looked unlikely once Orco’s offer to bondholders on restructuring the developer’s debt was rejected, as this was a condition for Colony to enter the company as a strategic partner. The company remains under court protection in France and appears to be under no immediate pressure to leave it.

Given the lack of debt restructuring to date, the investment conditions have not been met and Colony Capital’s option has expired accordingly.¬†Despite the current market conditions, Colony Capital confirms that the discussions conducted with Orco Property Group management were high quality.

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3 responses to “Orco ends talks with Colony

  1. Who didn't see this coming...

    Epic FAIL

  2. If nothing else, at least the discussions were high quality………..

  3. Who didn't see this coming...

    I’m sure it was a “if you scratch my back, I’ll scratch yours”, Ott and Bazin probably know each other from French HNWI circles and the potential “deal” was mutually benificial: Orco looked like they were making a genuine attempt to find outside equity, and Colony were percieved to be looking for deals…I’d doubt if this deal ever really had any legs

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