{"id":13684,"date":"2024-02-16T07:44:16","date_gmt":"2024-02-16T07:44:16","guid":{"rendered":"http:\/\/river-gas.com\/?p=13684"},"modified":"2024-02-16T07:44:16","modified_gmt":"2024-02-16T07:44:16","slug":"kretinsky-led-consortium-set-to-own-53-7-of-retailer-casinos-capital-2","status":"publish","type":"post","link":"https:\/\/river-gas.com\/index.php\/2024\/02\/16\/kretinsky-led-consortium-set-to-own-53-7-of-retailer-casinos-capital-2\/","title":{"rendered":"Kretinsky-led consortium set to own 53.7% of retailer Casino&#8217;s capital"},"content":{"rendered":"<p>PARIS, Jan 3 (Reuters) &#8211; A consortium led by Czech billionaire Daniel Kretinsky will own and control 53.7% of French retailer <a href=\"https:\/\/getb8.us\">Casino<\/a>&#8216;s share capital once a restructuring plan is completed, Casino said on Wednesday.<\/p>\n<p><strong>Current shareholders will be massively diluted to around 0.3% of the share capital, it added.<\/strong><\/p>\n<p>The statement also cited a report by independent expert Sorgem Evaluation that found the restructuring plan was fair to current shareholders.<\/p>\n<p><a href=\"https:\/\/getb8.us\">Casino<\/a> said that &#8211; according to Sorgem&#8217;s report &#8211; without implementation of the restructuring plan, the group&#8217;s enterprise value of 3.71 billion euros ($4.05 billion) (as implicit in the subscription price of the capital increase reserved for the consortium), is well below its net debt of 7.88 billion euros.<\/p>\n<p>Under these conditions, the economic value per 100 shares is zero. After implementation of the plan, the value of these 100 shares would be around 5 euros, which <a href=\"https:\/\/getb8.us\">Casino<\/a> said represented a value &#8220;very close to&#8221; the subscription price of the capital increase reserved for the consortium.<\/p>\n<p>As part of its restructuring, <a href=\"https:\/\/getb8.us\">Casino<\/a> said on Dec. 18 it had entered into exclusive talks to sell all of its big stores to Les Mousquetaires and Auchan Retail.<\/p>\n<p>Casino, which has warned of likely losses for 2023 for its core French business, is racing to finalise a bailout to avoid bankruptcy early this year. ($1 = 0.9172 euros) (Reporting by GV De Clercq Editing by Chris Reese and Barbara Lewis)<\/p>\n<p>If you cherished this write-up and you would like to receive a lot more info concerning <a href=\"https:\/\/getb8.us\">money slots online<\/a> kindly go to our own website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PARIS, Jan 3 (Reuters) &#8211; A consortium led by Czech billionaire Daniel Kretinsky will own and control 53.7% of French retailer Casino&#8216;s share capital once a restructuring plan is completed, Casino said on Wednesday. Current shareholders will be massively diluted to around 0.3% of the share capital, it added. The statement also cited a report [&hellip;]<\/p>\n","protected":false},"author":7173,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2107],"tags":[2320],"class_list":["post-13684","post","type-post","status-publish","format-standard","hentry","category-loans","tag-games-casino"],"_links":{"self":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/13684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/users\/7173"}],"replies":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/comments?post=13684"}],"version-history":[{"count":1,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/13684\/revisions"}],"predecessor-version":[{"id":13685,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/13684\/revisions\/13685"}],"wp:attachment":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/media?parent=13684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/categories?post=13684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/tags?post=13684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}