(AOF) – Casino fell by 3.52% to 0.58 euros. The distributor, which is starting 2024 in the red as it ended 2023, announced this morning the green light from the European Commission for the takeover of the group by a consortium led by Czech businessman, Daniel Kretinsky. This step is part of the financial restructuring of Casino which should result in the sale of 313 supermarkets and hypermarkets to Auchan and Intermarché.
Indebted to the tune of more than six billion euros, the distributor was placed in an accelerated safeguard procedure. Recently, the group obtained from the Paris Commercial Court the extension for two additional months (from December 25, 2023 to February 25, 2024) of the accelerated safeguard procedures opened on October 25 for the benefit of Casino, Guichard-Perrachon and its six subsidiaries concerned (Casino Finance, Distribution Casino France, Casino Participations France, Quatrim, Ségisor, and Monoprix SAS).
The consortium led by Daniel Kretinsky is now targeting a 2024 Ebitda of 126 million euros (vs. 316 million euros in the previous business plan), which would reach 920 million euros in 2028 (vs. 949 million euros previously).
The plan has been revised to take into account the lowering of the 2023 forecasts for the French scope and the entry into exclusive negotiations with Auchan Retail and Le Groupement Les Mousquetaires with a view to the sale of the majority of the Casino hypermarkets and supermarkets. .
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
