Casino guichard: A concert of shareholders led by Fimalac increases to more than 12% of Casino’s capital

(BFM Bourse) – A concert of several companies owned by Marc Ladreit de Lacharrière and Gespafro announced that it would increase its stake to 12.05% of the capital of the Saint-Etienne distributor.

There is movement in Casino’s capital. The concert made up of the companies Fimalac, Fimalac Développement and Gespafro increased its stake to 12.05% of the capital of the Saint-Etienne company in great difficulty. In detail, Fimalac has 9.39%, Fimalac Développement 1% and Gespafro 1.65%. The concert also holds 8.36% of the voting rights, according to the same executive order.

As a result of this agreement, Fimalac, which until then was Casino’s third largest shareholder, “may, at its option and at any time, be granted more than 10 million Casino shares for the ‘early settlement’ of receivables. In total, Marc Ladreit de Lacharrière controls more than 13 million Casino shares.

In detail, he says he has an option for 9.5 million shares “unconditionally exercisable at a value equal to the last closing price prior to the exercise of the option expiring on June 12, 2025”. And “an option for 716,835 shares” is exercisable on January 22, 2025.

This announcement comes a few days after Fimalac officially confirmed “to study a possible participation for an amount of 150 million euros” in a capital raising project for Casino, a distributor that employs more than 200,000 people worldwide, including a large quarter in France, who are having a hard time. to get out of debt.

This project is led by Czech billionaire Daniel Kretinsky, who owns more than 10% of the casino’s capital. He intends to take control of Casino via a capital increase of more than a billion euros in total, including 750 million euros provided by him.

This offer, made at the end of April, is contested by “a preliminary expression of interest” from the trio of businessmen Xavier Niel (Free), Matthieu Pigasse and Moez-Alexandre Zouari for a “reinforcement of equity” in Casino up to 1.1 billion euros.

Casino entered the settlement procedure at the end of May for a period of four months to renegotiate its debt, which amounts to 6.4 billion euros in net debt for Casino and about 3 billion for the parent company Rallye.

A reduction of Casino’s debt would mean that its creditors, major French and international banks, European or American investment funds and institutional players, agree to draw a line under the money owed by the group, in undoubtedly very significant proportions.

(With AFP)

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