PARIS (Reuters) – Trading in Casino shares resumed on Wednesday with a drop of more than 30% after the distribution group communicated the details of the two capital injection offers it had received.
At 7:15 a.m., the Casino title lost 32.7% to 3.07 euros, by far the largest drop in the SBF 120, down 0.4% at the same time.
Casino is at the heart of a battle between several big names in French capitalism who are proposing to inject funds into the heavily indebted group and take control of it.
The distributor had requested the suspension of its listing on Tuesday morning after announcing the official filing of two offers but without detailing them, which gave rise to numerous speculations on the amounts offered.
In the evening, Casino unveiled an offer associating the Czech businessman Daniel Kretinsky with Marc Ladreit de Lacharrière which provides for a capital increase of 1.35 billion euros, with a contribution of 900 million euros from the share of the two businessmen through their respective companies, EP Global Commerce and Fimalac.
On the other hand, an offer from 3F Holding – the investment vehicle of businessmen Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari – aims to inject 900 million euros into the group.
(Written by Blandine Hénault, edited by Kate Entringer)
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