Orrick Advises Groupe Flo on Implementation of €35 Million French State Guarantee Scheme

July.01.2020

Version Française: Orrick a conseillé Groupe Flo dans le cadre de la mise en place de Prêts Garantis par l’Etat (PGE) pour un montant total de 35 m€

Our Paris team advised Groupe Flo in connection with financial loans totaling €35 million as part of the exceptional guarantee scheme implemented by the French State to help companies weather the COVID-19 crisis.

Listed on Euronext Paris, Groupe Flo is a catering group comprising 132 owned and franchised restaurants. The group is mainly known for the Hippopotamus brand, historic brasseries and concessions.

This loan, which is guaranteed by the French State up to 90%, was granted by BNP Paribas, Banque Populaire Rives de Paris and Crédit Lyonnais. It will enable Groupe Flo and its eligible subsidiaries to finance their cash flow requirements as they resume normal operations and to preserve jobs in France.

Our team was led by Emmanuel Ringeval and included Lucie Boiteux.