is being circled by potential buyers and investors as it struggles to climb out from under a mountain of debt. Among the suitors, sources say, is business tycoon Tarak Ben Ammar
, a shareholder in The Weinstein Co. and a board member of Vivendi
Hit by the disappointing performance of last year’s “Valerian and the City of a Thousand Planets
,” EuropaCorp has directed its primary lender, JP Morgan
, to find someone who can inject equity capital into the company, as well restructure and pay a portion of its debt. Several well-informed sources tell Variety
that the company urgently needs to find a solid partner by March 30, which marks the end of its financial year. The company’s market capitalization fell to €57.4 million ($70.2 million) as of Thursday, while losses reached €119.9 million ($146.8 million) and its net debt skyrocketed to €230 million ($281.6 million) as of September.
JP Morgan currently holds EuropaCorp’s assets, including its valuable