EU gives Kretinsky consortium green light for Casino takeover
Casino Guichard Perrachon
€1.09
13:05 24/12/24
-0.58%
-€0.01
The European Commission has given the go-ahead for a consortium led by Czech billionaire Daniel Kretinsky to take control of debt-laden retailer Casino as part of its restructuring, the company said on Monday.
cac mid & small
12,504.09
17:00 24/12/24
0.49%
60.49
The deal is still subject to extra regulatory approval including authorisation from the French finance ministry under foreign investment rules, and a waiver from the stock market regulator to avoid starting formal public takeover proceedings.
Kretinsky's consortium will own and control 53.7% of Casino shares after the restructure is completed. The proposal includes a debt restructuring of €7.9bn.