Orpea shares continue to skid after restructuring deal announced

Shares in French nursing home operator Orpea continued to skid on Monday, after last week reaching a deal in principle on restructuring. Orpea slumped 21%, after falling 26% on Friday and 93% over the last 52 weeks. The proposed terms as contemplated would leave current shareholders with as little as 0.4% of the company, while a group led by Caisse des Dépôts et Consignations would hold just over 50%, and unsecured financial creditors would hold 49%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.