FX.co ★ Casino: Paris Commercial Court Approves Accelerated Safeguard Plans

The Paris Commercial Court has sanctioned the expedited protection plans for Casino and several of its subsidiaries. The company anticipates that, barring any suspensory appeal, all the proposed transactions in financial restructuring will be finalized by March 27, 2024.

Casino affirmed that the implementation of anticipated increases in share capital, as part of the financial restructuring, will lead to a significant dilution for current shareholders. Consequently, Rallye will lose its control over the company, which will be transferred to the advantage of the consortium.