2023-06-28 18:20:36
PARIS, June 28 (Archyde.com) – Casino CASP.PA warned its shareholders on Wednesday that they are likely to face massive investment dilution as part of the retail group’s debt restructuring process, currently under discussion.
He added that Rallye GENC.PA, Casino’s parent company, would lose control anyway.
In a press release, Casino said it had sent Wednesday to the parties involved in the conciliation proposals on the conversion into capital of the group’s unsecured and secured debt.
“Casino’s vision of the debt-to-equity conversion amounts will be discussed with potential equity contributors as well as with the Group’s financial creditors, so that the final restructuring proposal may differ from this vision,” the group said. .
“Regardless of the final restructuring plan, Casino shareholders will be massively diluted and Rallye will lose control of Casino,” he added.
(Report Sudip Kar-Gupta, French version Jean-Stéphane Brosse)
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