Cnova: Casino acquires GPA's stake

(CercleFinance.com) - Casino announces the acquisition from GPA of CBD Luxembourg Holding, which indirectly holds 34% of Cnova's share capital (117,303,664 ordinary shares), for a purchase price of 10 million euros.


The agreement will increase Casino's stake in Cnova to 98.8%. It also provides for the payment by Casino, under certain conditions, of an earn-out if a transaction involving its stake in Cnova were to take place within the next 18 months.

This transaction is part of the retail group's financial restructuring: in particular, it simplifies Cnova's ownership structure and separates CGP's stakes in GPA and Cnova.

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