Groupe Casino: Details of the backstopped capital increase of 275 million euros to be implemented as part of the financial restructuring
31 Octubre 2023 - 12:25PM
Groupe Casino: Details of the backstopped capital increase of 275
million euros to be implemented as part of the financial
restructuring
Details of the backstopped capital
increases of 275 million euros to be implemented as part of the
financial restructuring
Paris, 31 October 2023
Further to its press release of 5 October 2023,
Casino Group announces that on 25 October 2023 at midnight (CET),
the last commitment date for subscribing to the €275 million
backstopped capital increases, Casino has received commitments to
subscribe from the creditors for a total amount of approximately
€195 million (i.e. circa 71% of the amount to be subscribed).
In accordance with the lock-up agreement dated 5
October 20231, the Group, the Consortium and the initial secured
creditors who undertook to backstop the capital increase have
decided, in view on the one hand of the subscription undertakings
received, the additional time and costs incurred by a rights issue,
and on the other hand of the Group's latest results (see Casino's
publication of 26 October 2023), to immediately implement the
guarantee of the secured creditors concerned for the remaining
amount of approximately 80 million euros to be subscribed.
Therefore, Casino will not launch a rights issue
as part of its restructuring.
As previously communicated by Casino, the
implementation of the capital increases planned as part of the
financial restructuring plan, which should be completed by 30 April
2024 at the latest, will result in massive dilution for existing
shareholders and Rallye will no longer control Casino.
This press release was prepared solely for
information purposes and should not be construed as a solicitation
or an offer to buy or sell securities or related financial
instruments. Likewise, it does not provide and should not be
treated as providing investment advice. It has no connection with
the specific investment objectives, financial situation or needs of
any receiver. No representation or warranty, either express or
implied, is provided in relation to the accuracy, completeness or
reliability of the information contained herein. Recipients should
not consider it as a substitute for the exercise of their own
judgement. All the opinions expressed herein are subject to change
without notice.
* * *
ANALYSTS AND INVESTORS
CONTACTS
Christopher WELTON -
cwelton.exterieur@groupe-casino.fr - Tel: +33 (0)1 53 65 64 17
orIR_Casino@groupe-casino.fr - Tel: +33 (0)1 53 65
24 17
PRESS CONTACTS
Groupe Casino – Communications
Director
Béatrice MANDINE –
bmandine@groupe-casino.fr - Tel: + 33 (0)6 48 48 10 10
Nicolas BOUDOT -
nboudot@groupe-casino.fr – Tel: + 33 (0)6 79 61 40 99
ordirectiondelacommunication@groupe-casino.fr -
Tel: + 33(0)1 53 65 24 78
Agence IMAGE 7
Karine Allouis - kallouis@image7.fr - Tel: +33
(0)6 11 59 23 26
Laurent Poinsot - lpoinsot@image7.fr - Tel: +
33(0)6 80 11 73 52
Franck Pasquier - fpasquier@image7.fr - Tel: +
33(0)6 73 62 57 99
1 See page 5 of the presentation dated 5 October
2023
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