Compagnie Boussac Saint Frères

"This company will be established with a capital of 200 million francs. Its new corporate name will be Compagnie Boussac Saint Frères. Starting from July 1, 1982, it will receive from the provisional administrator the lease management of Boussac Saint Frères for a period of five years. In financial terms, the inventory will be brought in at a value of 1.1 billion francs and the realizable and available assets for 500 million francs, all payable at the end of the five years. The royalty to be paid to BSF by CBSF will be 0.10% of the tax-excluded turnover."

"• The Ferinel plan is being implemented. It incorporates elements already analyzed by the management and the current team, contained in the three-year plan (1984-1986) and relies on various diagnostics provided by expert firms: A. D. Little, etc. Hughes de Lasteyrie, assistant director of Dreyfus bank supervises its writing, which I actively participate in, along with the financial director and the administrative director of the headquarters, under the vigilant eye and following the indications of Bernard Arnault and Pierre Godé. The Ferinel group thus proposes a sustainable solution to ensure the recovery and permanence of the Agache-Willot group by relying on the prior takeover of SFFAW and by integrating the Compagnie Boussac Saint Frères into the Agache-Willot group: - legally, the agreement signed with Mr. Willot on November 14, 1984 ensures the takeover of SFFAW, resolves the complex legal problems that condition the survival of the Agache-Willot group and allows for the presentation of a concordatory solution; • - On the industrial and social level, the plan includes restructuring measures already presented to the public authorities and currently being implemented; • - On the economic and financial level, a capital increase of 400 million francs for SFFAW is planned, to be carried out by private investors brought in by the Ferinel group and Dreyfus bank. This will be carried out as soon as the concordat is approved."