The €800 million is actually part of a larger €1.75 billion funding round. However, Paul Saleh presented the information as two separate figures ~ €1.7 billion + €800 million
Well actually this issue is extremely messy.
At time of the bid half of 800M€ were already raised and and half requested.
Daniel Kretinsky in is bidding took for granted the total amount was 800M€ and as he considered the new money was to hold during 2025 and restructure TFCo and Eviden (900M€ required) the 800M€ would be kept until the sovereign assets would be sold and the 800M€ would be refunded by sovereign assets.
In call on July first that was only for top 500 managers and clients partners, Paul Saleh mentionned that the 800M€ would be refunded, with the 1.7bn, I think he said this to avoid complains about the 15% yield which are crazy yield.
However, I fully disagreed as if you do this, the cash available to go through 2025 turbulence will be 900M€ and that means you can restructure TFCo and Eviden (amount given in CMD June 14th 2022) and remains 650M€ on TFCo and 250M€ on Eviden.
Then, as you absolutely noticed in the all employee call, probably thinking the whole employee are more stupid, he said both 1700Md€ and 800Md€ would be available. So then I made an article saying, the debit is 2500M€ + 1900M€ kept and then the new debt is 4400M€ so he lied when he said he removed 3bn.
Probably Mustier was unhappy of that that Paul keep presenting facts only how he wants people to believe it and not how they are.
That makes sense the 1750 repay the interim financing. But even doing so, and I am happy to share with you my Excel table, the debt would be 3600bn, so not at all reduce of 3bn
