Groupe Casino releases update on conditions for restructuring

By William Gullotti

Buffalo, N.Y., Feb. 2 – Groupe Casino (Casino Guichard-Perrachon SA) provided an update regarding the conditions for its financial restructuring in a press release on Friday.

As previously reported in September 2023 when the company announced receiving a deadline extension for a lock-up agreement, it was expected that all restructuring operations would become effective during the first quarter of 2024.

According to the press release, the company has received authorization from the anti-trust authorities of Serbia, Northern Macedonia, Morocco and Kosovo to proceed with the acquisition transaction, under merger control. Furthermore, the European commission issued a decision on Friday to authorize the transaction under its Foreign Subsidies Regulation.

The Luxembourg Insurance Authority has authorized the change of indirect control of the group’s reinsurance subsidiary, Casino RE.

Completion of the financial restructuring remains subject to the approval of the accelerated safeguard plans of Casino Finance, DCF, CPF, Quatrim, Monoprix and Segisor by the Paris Commercial Court.

Casino Guichard-Perrachon is a Saint-Etienne, France-based food and non-food retailer.

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