RALLYE S.A.: Financial restructuring of Casino

RALLYE

Financial restructuring of Casino

Paris, 18 October 2023 – The Board of Directors of Rallye acknowledged today the detailed terms of the lock-up agreement entered into by Casino on 5 October 2023 relating to its financial restructuring with, on the one hand, EP Equity Investment III s.à r.l., an entity controlled by Mr. Daniel Křetínský, Fimalac and Attestor (hereafter collectively the “Consortium”), and on the other hand,certain of its main secured creditors (the “Lock-Up Agreement”).

Rallye acknowledges the terms of Casino’s financial restructuring, and in particular the equity contribution from the Consortium and certain creditors, the equitization of all of Casino Group's unsecured debt and the equitization of part of its secured debt, as well as the massive dilution of Casino shareholders that would result, with Rallye consequently losing control of Casino.

Rallye intends to preserve its main assets in accordance with its corporate interest and thus provide its support as Casino's controlling shareholder so that Casino's restructuring can be successfully implemented in accordance with the Lock-up Agreement.

The conciliation proceedings (procédure de conciliation) opened on 19 May 2023 in respect of Rallye will expire on 19 October 2023 and Rallye will remain subject to the undertakings of its Safeguard Plan.

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Press contact:
PLEAD

Étienne Dubanchet +33 6 62 70 09 43 etienne.dubanchet@plead.fr