Kretinsky company proposes to subscribe to capital hike at French retailer Casino

Teract SA

24/04/2023 06:45

PARIS, April 24 (Reuters) - French supermarket retailer
Casino  CASP.PA  said that EP Global Commerce a.s, a Czech
company controlled by billionaire investor and current Casino
shareholder Daniel Kretinsky, had proposed to subscribe to a new
capital increase at Casino.
    Casino said Kretinsky's EP Global Commerce company was
proposing to subscribe to a capital increases worth an aggregate
amount of 1.1 billion euros ($1.2 billion).
    "At this stage, Casino Group has acknowledged the proposal,"
said Casino in a statement on Monday.
    "If it were to respond positively to this proposal, the
implementation of the transactions proposed by EP Global
Commerce a.s. could, depending on the financial parameters
ultimately agreed between the parties, lead to a change of
control of Casino and to a dilution which might be very
significant for existing shareholders," added Casino.
    ($1 = 0.9113 euros)

 (Reporting by Sudip Kar-Gupta;
Editing by Dominique Vidalon)
 ((sudip.kargupta@thomsonreuters.com;))