EU gives Kretinsky consortium green light for Casino takeover
Casino Guichard Perrachon
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15:34 22/11/24
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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.
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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.