on RALLYE (EPA:RAL)
Major restructuring and liquidation announced for Rallye and its subsidiaries
The Paris Commercial Court has validated the accelerated safeguard plans of Casino and its affiliated entities, paving the way for a major financial restructuring. This operation, scheduled for March 27, 2024, will result in a significant dilution of the shares of current shareholders. Rallye, majority shareholder, will see its stake reduced to 0.1% of Casino's capital, effectively losing its control over the company.
In the context of this restructuring, Rallye and its holding companies Foncière Euris, Finatis and Euris will be pushed towards judicial liquidation. The cessation of Rallye's payments, anticipated following the loss of control of Casino, will lead to the request for resolution of its safeguard plan and the opening of judicial liquidation proceedings. A similar approach will be undertaken by affiliated holding companies.
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