Casino hypermarket (photo credit: Groupe Casino / )
(AOF) – Biggest drop in the SBF 120, Casino tumbles 27.68% to 5.44 euros. The Saint-Etienne distributor, which has fallen by more than 32% over the last five days, has indicated that “whatever the final restructuring plan, Casino’s shareholders will be massively diluted and Rallye will lose control of Casino”, indicated the group in a press release.
July 3 has been set as the deadline for submitting takeover bids for the company. At the same time, the rally title faltered by nearly 29% to 1.082 euros.
The company chaired by Jean-Charles Naouri considers that the agreement should include an equity contribution for an amount of at least 900 million euros “in order to allow the implementation of the 2023-2025 business plan in adequate liquidity conditions”.