Kretinsky-led consortium set to own 53.7% of retailer Casino’s capital

PARIS, Jan 3 (Reuters) – A consortium led by Czech billionaire Daniel Kretinsky will own and control 53.7% of French retailer Casino‘s share capital once a restructuring plan is completed, Casino said on Wednesday.

Current shareholders will be massively diluted to around 0.3% of the share capital, it added.

The statement also cited a report by independent expert Sorgem Evaluation that found the restructuring plan was fair to current shareholders.

Casino said that – according to Sorgem’s report – without implementation of the restructuring plan, the group’s enterprise value of 3.71 billion euros ($4.05 billion) (as implicit in the subscription price of the capital increase reserved for the consortium), is well below its net debt of 7.88 billion euros.

Under these conditions, the economic value per 100 shares is zero. After implementation of the plan, the value of these 100 shares would be around 5 euros, which Casino said represented a value “very close to” the subscription price of the capital increase reserved for the consortium.

As part of its restructuring, Casino said on Dec. 18 it had entered into exclusive talks to sell all of its big stores to Les Mousquetaires and Auchan Retail.

Casino, which has warned of likely losses for 2023 for its core French business, is racing to finalise a bailout to avoid bankruptcy early this year. ($1 = 0.9172 euros) (Reporting by GV De Clercq Editing by Chris Reese and Barbara Lewis)

If you have any concerns concerning the place and how to use top casino websites, you can call us at the site.

Leave a Reply

Your email address will not be published. Required fields are marked *

https://sachisrestaurants.com/

slot gacor

judi bola

slot garansi kekalahan

https://cajuncornersauce.com/

slot spaceman

starlight princess

https://moolchandkidneyhospital.com/

Slot bonus new member

slot bet kecil

mahjong ways 2

https://lajusumsel.com/

slot server thailand

https://www.evershinehospital.com/

slot deposit 10 ribu

slot depo 10k

starlight princess

spaceman

judi slot

situs judi bola

aztec gems deluxe

slot olympus

CERIABET

gatotkaca slot

rujak bonanza

depo 25 bonus 25

situs judi bola

slot bet 100 perak

CERIABET

CERIABET

CERIABET

CERIABET

CERIABET

CERIABET

CERIABET

ceriabet login

https://www.whoisyourshero.com/

https://www.myharmonyhealths.com/

slot gacor bet 200

depo 5k

slot gacor 777

slot deposit 10 ribu

slot bet 200

slot thailand asli

mahjong slot

spaceman slot

bonus new member

judi bola