Casino: Trinity to sell shares to Daniel Kretinsky
(CercleFinance.com) - Casino announced on Wednesday that the Trinity investment fund is to sell its 7.
65% stake in France Retail Holdings (FRH), its controlling holding company, to EP Equity Investment (EPEI), a company owned by Czech billionaire Daniel Kretinsky.
In a press release, the retailer states that this transfer will have no impact on the distribution of its capital and voting rights, as the group will ultimately remain controlled by Daniel Kretinsky.
The transaction will, however, result in Trinity's withdrawal from the shareholders' agreement signed last March with EPEI and Marc de Lacharrière (Fimalac), which will entail the loss of its rights under the agreement.
As a consequence, Thomas Doerane, Trinity's representative on Casino's Board of Directors, plans to resign from his position as non-voting member of Casino's Board and Strategy Committee.
Casino points out that Trinity currently directly holds 10.05% of the capital.
By way of indication, FRH holds just over 53% of the retail group's capital.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
65% stake in France Retail Holdings (FRH), its controlling holding company, to EP Equity Investment (EPEI), a company owned by Czech billionaire Daniel Kretinsky.
In a press release, the retailer states that this transfer will have no impact on the distribution of its capital and voting rights, as the group will ultimately remain controlled by Daniel Kretinsky.
The transaction will, however, result in Trinity's withdrawal from the shareholders' agreement signed last March with EPEI and Marc de Lacharrière (Fimalac), which will entail the loss of its rights under the agreement.
As a consequence, Thomas Doerane, Trinity's representative on Casino's Board of Directors, plans to resign from his position as non-voting member of Casino's Board and Strategy Committee.
Casino points out that Trinity currently directly holds 10.05% of the capital.
By way of indication, FRH holds just over 53% of the retail group's capital.
Copyright (c) 2024 CercleFinance.com. All rights reserved.