Restructuring of Casino: Major consequences for Rallye and its subsidiaries

Rallye announced, on February 27, 2024, the approval by the Paris Commercial Court of the accelerated safeguard plans for Casino and certain of its subsidiaries. This financial restructuring, scheduled for March 27, 2024, will result in significant dilution for existing shareholders, reducing Rallye's stake in Casino's capital to 0.1% and ending its control over the company.

The event will also mark the failure of Rallye to pay following the prior repayment of its financing due to the loss of control over Casino. In this context, Rallye plans to terminate its safeguard plan and initiate judicial liquidation proceedings on the date of completion of Casino's financial restructuring.

Following the symbiosis of the safeguard plans of Rallye, Foncière Euris, Finatis and Euris, the latter will also request the end of their safeguard plan and the opening of judicial liquidation procedures. This strategic shift could redefine the financial landscape of these entities in the months to come.