(News Bulletin 247) – The group announces a proposal by EP Global Commerce as (a Czech company controlled by Mr. Daniel Křetínský) for a capital increase project for a total amount of 1.1 billion euros.
At this stage, the group only took note of the proposal. ‘ If it were to give a favorable response, the implementation of the operations proposed by EP Global Commerce could, depending on the financial parameters adopted by the parties, lead to a change of control of Casino and to a very significant dilution of the shareholders existing’ indicates the group.
The completion of these transactions requires the approval of certain of the Group’s creditors. Casino wishes, in order to have a secure discussion framework, to study the possibility of requesting the appointment of conciliators, which requires the agreement of certain bank creditors and bondholders.
Thus, Casino will seek the agreement of its banks, in accordance with the terms of the credits
concerned (mainly, the ‘RCF’ syndicated loan, the Term Loan B, the RCF Monoprix Exploitation and the loan guaranteed by the State to Cdiscount).
In addition, a consultation of the holders of certain bond loans will be launched on April 24, 2023, with a view to obtaining the agreement, by the majority required.
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