Groupe Casino: Press Release
02 Mars 2020 - 8:03AM
Groupe Casino: Press Release
Paris, 2nd March 2020,
Casino, Guichard-Perrachon has been informed by
its reference shareholder, Rallye, that on 28 February the Paris
Commercial Court approved the safeguard plans for Rallye and its
subsidiaries Cobivia, HMB and Alpétrol, as well as for their parent
companies Foncière Euris, Finatis and Euris.
Casino Group takes due note of the Court's
decisions, which entail financial commitments for these companies
from 2023 onwards.
Casino Group confirms that it will continue to
implement its strategic plan for 2020-2022: further development of
the Group's unique positioning in promising formats (premium,
local, e-commerce) and geographical areas; acceleration in new
high-growth businesses (energy, data); in financial terms, priority
will be given to debt reduction and the generation of recurring
cash flow.
The only decisions taken to date by Casino Group
concerning its disposal plan and dividend policy are those already
communicated:
- An asset disposal plan totalling €4.5bn in France by the end of
the first quarter of 2021, which completes the Group's commercial
transformation begun several years ago1, of which €2.1bn signed and
€1.8bn collected to date ;
- No dividend distribution during the year 20202. Decisions on
future distributions will be made on the basis of the Group's
financial situation, in its corporate interest and in compliance
with its banking and bond documentation.
***
Disclaimer This press release was
prepared solely for information purposes and should not be
construed as a solicitation or an offer to buy or sell securities
or related financial instruments. Similarly, it does not give and
should not be treated as giving investment advice. It has no
connection with the investment objectives, financial situation or
specific needs of any recipient. No representation or warranty,
either express or implicit, is provided in relation to the
accuracy, completeness or reliability of the information contained
herein. It should not be regarded by recipients as a substitute for
exercise of their own judgement. All opinions expressed herein are
subject to change without notice
ANALYST AND INVESTOR
CONTACTSRégine GAGGIOLI – +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fror
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS
CONTACTSCasino Group – Direction
of CommunicationStéphanie ABADIE -
sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05
or
+33(0)1 53 65 24 78 -
directiondelacommunication@groupe-casino.fr
Agence IMAGE 7Karine
ALLOUIS - +33(0)1 53 70 74 84 - kallouis@image7.frFlore
LARGER – Tel : +33(0)6 33 13 41 50 - flarger@image7.fr
1 Cf. Press release – 20th August 2019.
2 Cf. Press Release – 25th July 2019.
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