AI Terminal
Casino, Guichard-Perrachon SA
M&A Activity • Aug 19, 2019
1183_iss_2019-08-19_214adc14-f783-477d-842c-3df52e80d3cc.pdf
M&A Activity
Open in ViewerOpens in native device viewer
August 19th, 2019
Casino Board of Directors decides on a final amendment to its offer to acquire Éxito's 50% of Segisor
Following the announcement made on July 25th regarding a project aiming at the simplification of Casino Group's structure in Latin America, Casino announces that today, its Board of Directors approved a final amendment to its offer to acquire Éxito's equity interest in GPA indirectly held through the French company Segisor.
The amended offer includes the following:
- − An improved price per GPA share at 113 BRL;
- − A partial purchase price matching clause (equal to 80% of the price difference) on the 49.8 million GPA shares that Casino would indirectly acquire from Éxito in case of disposal of all or part of such shares above 113 BRL per share within 15 months.
The amended offer is the result of the discussions with the management and the Chairman of the Board of Directors of Éxito, taking into account the preliminary analysis conducted by Éxito's Audit and Risk Committee and subject to the final evaluation of such committee, which Casino requested to be held no later than August 26th, 2019.
The amended offer is valid until August 27th, 2019.
The other terms and conditions of the simplification project remain unchanged.
The simplification project's transactions remain subject to certain corporate approvals of competent governance bodies.
CASINO GROUP
ANALYST AND INVESTOR CONTACTS:
Régine GAGGIOLI - [email protected] - +33 (0)1 53 65 64 17 Or +33 (0)1 53 65 24 17 - IR\[email protected]
PRESS CONTACTS:
Casino Group – Direction of Communication Stéphanie ABADIE - [email protected] - +33 (0)6 26 27 37 05 Or +33(0)1 53 65 24 78 - [email protected]
Agence IMAGE 7 Karine ALLOUIS - [email protected] Grégoire LUCAS - [email protected] - 33(0)1 53 70 74 84
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.
***