(AOF) – The group informs that France Retail Holdings (FRH), an entity controlled by Daniel Kretínský and Casino have jointly submitted a request to the Enterprise Chamber of the Court of Appeal of Amsterdam, under Article 5: 72 and/or Article 5:71 of the Dutch Financial Supervision Act for an exemption from the obligation to make a mandatory tender offer as referenced in Article 5:70 FMSA.
“If the exemption is granted, Casino will initiate within three months a takeover procedure (uitkoopprocedure) in accordance with article 2:92a of the Dutch Civil Code (Burgerlijk Wetboek) in which the Chamber of Companies will determine the price to be paid for the shares of the minority shareholders of Cnova NV, where Casino will claim a repurchase price similar to that which would be paid in a mandatory public tender offer”, specifies a press release.
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