EU gives Kretinsky consortium green light for Casino takeover
Casino Guichard Perrachon
€2.10
16:40 05/11/24
-3.23%
-€0.07
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
12,959.28
17:00 05/11/24
0.27%
34.54
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.