Groupe Casino: Opening of accelerated safeguard proceedings (procédures de sauvegarde accélérée) and signature of conciliation protocols (protocoles de conciliation)
25 Ottobre 2023 - 7:01PM
Groupe Casino: Opening of accelerated safeguard proceedings
(procédures de sauvegarde accélérée) and signature of conciliation
protocols (protocoles de conciliation)
Opening of accelerated safeguard
proceedings (procédures de sauvegarde
accélérée) and signature of conciliation protocols
(protocoles de
conciliation)
Paris, 25 October 2023
Casino Group announces the opening today of
accelerated safeguard proceedings for the benefit of Casino,
Guichard-Perrachon and certain of its subsidiaries1 in order to
implement the restructuring plan of the Group in accordance with
the terms of the lock-up agreement entered into on 5 October 2023
as part of conciliation proceedings.
The accelerated safeguard proceedings only
concern the financial debt of the company Casino,
Guichard-Perrachon and certain of its subsidiaries and will have no
impact on the Group's relations with its operating partners (in
particular its suppliers and franchisees) or its employees.
In this context, the Paris Commercial Court
opened accelerated safeguard proceedings for an initial period of
two months, possibly renewable for a further two months up to a
maximum total period of four months and appointed Thévenot Partners
(Aurélia Perdereau), FHBX (Hélène Bourbouloux) and Abitbol &
Rousselet (Frédéric Abitbol) as judicial administrators
(administrateurs judiciaires).
In addition, Monoprix Holding, Monoprix
Exploitation and Cdiscount have entered into conciliation protocols
with their respective financial creditors, in order to implement
the terms of the restructuring at the level of each of these
companies. The Group applied for a record (constatation) of these
conciliation protocols from the President of the Paris Commercial
Court.
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
Casino Group – Communications
Director
Nicolas BOUDOT -
nboudot@groupe-casino.fr - Tel : + 33 (0)6 79 61 40 99
Béatrice MANDINE -
bmandine@groupe-casino.fr - Tel: + 33 (0)6 48 48 10 10
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 Casino Finance, Distribution Casino France,
Casino Participations France, Quatrim, Ségisor and Monoprix
- 2023 10 25 - PR - Accelerated safeguard
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