Bigben Interactive receives €35M from the sale of Bigben Connected to Modelabs
Bigben Interactive received 35 million euros on the closing date of the sale of its subsidiary to Modelabs, with the balance of the purchase price taking the form of a seller's note. The Lille Métropole Commercial Court has also set December 9, 2026 as the date for the hearing to examine the group's accelerated safeguard plan.
All conditions precedent satisfied, the sale is finalized
In a press release published on October 8, 2026, Bigben Interactive announced that the sale of all capital and voting rights of its subsidiary Bigben Connected to Modelabs has been completed, with all conditions precedent having been satisfied. The sale agreement, subject to these conditions, had been announced by a press release dated July 21, 2026.
In accordance with this agreement, part of the purchase price, in the amount of 35 million euros, was paid by Modelabs to the company on the closing date. The balance is subject to a seller's note repayable by Modelabs over a period of five years from this date, in semi-annual installments.
The amount of this seller's note was set between the parties at approximately 13 million euros on the closing date. It will be determined definitively following the usual process of verification by Modelabs of Bigben Connected's closing accounts, under the conditions provided for in the agreement.
The proceedings extended until December 17, 2026
The accelerated safeguard proceedings had been opened for the benefit of Bigben Interactive by a judgment of August 17, 2026 from the Lille Métropole Commercial Court, as part of its financial restructuring. By a judgment of October 7, 2026, the court extended it for an additional period of two months, from October 17, 2026 to December 17, 2026.
The 35 million euros received will be allocated by the company in accordance with the main principles of its financial restructuring, as presented in its press release of September 22, 2026. The company describes this sale, conducted within the framework of the accelerated safeguard proceedings, as a step in its restructuring.
Vote by creditors and shareholders prior to the court's decision
Under the supervision of the administrators appointed by the court, creditors and shareholders of the company will be called upon to vote, within classes of affected parties, on the proposed accelerated safeguard plan. The court will then rule on its adoption.
Financial restructuring operations will be implemented following this adoption, and their completion is expected by the end of the first quarter of 2027. The company has indicated that it will inform the market of the next steps, including the detailed timeline for upcoming capital operations.
