Casino Adopts Restructuring Plan from Its Main Shareholder
Casino Group has decided among multiple financial restructuring proposals. The board of directors has chosen the plan presented by its main shareholder, deemed to best serve the company's interest.
A Decision Validated by the Board of Directors
Casino Group has completed the review of financial restructuring proposals received from its TLB creditors and its main shareholder. The board of directors, consisting solely of directors free from any conflict of interest, determined that in the absence of consensus, the proposal from the main shareholder best serves the corporate interest of the group. This decision comes after the documents were reviewed by the ad hoc committee. The choice remains subject to two conditions: the improvement of the guarantees aspect for the TLB creditors to align them with those of the banks, and the lifting by the banks of their prerequisite requiring the agreement of two-thirds of the TLB creditors to modify the safeguard plan.
Banks to Make a Decision Before July 20
At the request of Casino Group, the banks have indicated that they will refer these issues to their respective credit committees for a decision before July 20, 2026. The group plans, subject to the approval of the board of directors, to initiate the amendment procedure of the safeguard plan by the end of July, aiming to implement the restructuring operations by the end of the second half of 2026.
Significant Dilution Expected for Current Shareholders
The group reminds that the amendment of the safeguard plan would result in significant dilution for the existing shareholders.
