Brief: Casino And Teract Expand Tie Up Talks To Groupement Les Mousquetaires

Teract SA

24/04/2023 06:45

April 24 (Reuters) - Casino Guichard Perrachon SA
 CASP.PA :
    * IN EXCLUSIVE DISCUSSIONS WITH GROUPEMENT LES MOUSQUETAIRES
AND
TERACT TO FURTHER DEVELOP THEIR INDUSTRIAL AND PURCHASING
PARTNERSHIPS AND OPTIMISE THEIR RESPECTIVE NETWORKS
    * GROUPEMENT LES MOUSQUETAIRES AND CASINO GROUP TO EXTEND
THEIR
AGREEMENTS TO THE NEW ENTITY TO BE FORMED BETWEEN CASINO GROUP
AND TERACT, WHICH WOULD BE CONTROLLED BY CASINO GROUP
    * GROUPEMENT LES MOUSQUETAIRES AND CASINO GROUP ARE
CONSIDERING TO
EXTEND THEIR ALLIANCES BY TWO YEARS UNTIL 2028
    * CONSIDERS TO BUILD NEW PARTNERSHIPS BETWEEN THE NEW ENTITY
AND
GROUPEMENT LES MOUSQUETAIRES
    * NEW ENTITY COULD TRANSFER TO GROUPEMENT LES MOUSQUETAIRES,
OVER
SEVERAL YEARS AND AT MARKET VALUE, A NUMBER OF POINTS OF SALE
FROM CASINO FRANCE PERIMETER REPRESENTING A MINIMUM OF EUR 1.1
BILLION OF TURNOVER INCLUDING VAT
    * INVIVO AND GROUPEMENT LES MOUSQUETAIRES ARE CONSIDERING AN
INVESTMENT OF EUR 300 MILLION IN THE NEW ENTITY
    * PROJECT REMAINS CONDITIONAL ON THE CONCLUSION OF A BINDING
AGREEMENT BETWEEN THE PARTIES, WHICH COULD INTERVENE BEFORE END
OF Q2 2023
    * CASINO AND TERACT CONFIRM OBJECTIVE TO RAISE A TOTAL OF
EUR 500
MILLION OF ADDITIONAL EQUITY

Source text for Eikon:  ID:nGNE84ldGH 
Further company coverage:  CASP.PA 

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