Paris, 2nd March 2020,
Casino, Guichard-Perrachon has been informed by its reference shareholder, Rallye, that on 28 February the Paris Commercial Court approved the safeguard plans for Rallye and its subsidiaries Cobivia, HMB and Alpétrol, as well as for their parent companies Foncière Euris, Finatis and Euris.
Casino Group takes due note of the Court's decisions, which entail financial commitments for these companies from 2023 onwards.
Casino Group confirms that it will continue to implement its strategic plan for 2020-2022: further development of the Group's unique positioning in promising formats (premium, local, e-commerce) and geographical areas; acceleration in new high-growth businesses (energy, data); in financial terms, priority will be given to debt reduction and the generation of recurring cash flow.
The only decisions taken to date by Casino Group concerning its disposal plan and dividend policy are those already communicated:
- An asset disposal plan totalling €4.5bn in France by the end of the first quarter of 2021, which completes the Group's commercial transformation begun several years ago1, of which €2.1bn signed and €1.8bn collected to date ;
- No dividend distribution during the year 20202. Decisions on future distributions will be made on the basis of the Group's financial situation, in its corporate interest and in compliance with its banking and bond documentation.
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. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice
ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – +33 (0)1 53 65 64 17
+33 (0)1 53 65 24 17
Casino Group – Direction of Communication
Stéphanie ABADIE - email@example.com - +33 (0)6 26 27 37 05
+33(0)1 53 65 24 78 - firstname.lastname@example.org
Agence IMAGE 7
Karine ALLOUIS - +33(0)1 53 70 74 84 - email@example.com
Flore LARGER – Tel : +33(0)6 33 13 41 50 - firstname.lastname@example.org
1 Cf. Press release – 20th August 2019.
2 Cf. Press Release – 25th July 2019.