(AOF) – Rallye, Foncière Euris, Finatis and Euris have taken note of the approval by the Paris Commercial Court of the accelerated safeguard plans for Casino and its subsidiaries concerned. The effective completion of the distributor’s financial restructuring, scheduled for March 27, will result in massive dilution for existing shareholders. Thus, at the end of the restructuring, Rallye will hold approximately 0.1% of the capital of Casino and Rallye will therefore lose control of Casino.
To the extent that this loss of control constitutes a case of early repayment of the financing concluded by Rallye as part of the repurchase offers launched in 2021 and 2022 on its unsecured debt, Rallye will therefore cease payments from the date of carrying out the financial restructuring of Casino.
Consequently, on the date of completion of the financial restructuring of Casino and subject to the successful completion of the planned capital operations, Rallye will request the resolution of its safeguard plan and the opening of a judicial liquidation procedure.
To the extent that the safeguard plans of the companies Rallye, Foncière Euris, Finatis and Euris are interdependent, Foncière Euris, Finatis and Euris will also request the resolution of their safeguard plan and the opening of judicial liquidation proceedings.
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