Casino announced on Thursday the convening of an upcoming meeting to enable its shareholders and creditors to vote on the draft accelerated sauvegarde plans.

The classes of parties affected will be called upon to vote either electronically between December 21, 2023 and January 10, 2024, with the votes to be counted on January 11.

As far as shareholders are concerned, a face-to-face meeting will be held on January 11.

Investors, including shareholders, will be asked to vote, at the level of each Group company, on a single resolution, namely the approval of the accelerated sauvegarde plan concerning each of the entities.

As a reminder, the Paris Commercial Court recently extended the accelerated sauvegarde procedures for a further two months, i.e. from December 25, 2023 to February 25, 2024.

In addition, the consortium of buyers made up of EP Global Commerce, Fimalac and Attestor, has revised its business plan to take into account the updated 2023 forecasts for the French perimeter.

This update also includes the announcement that it has entered into exclusive negotiations with Auchan Retail and Les Mousquetaires with a view to selling most of Casino's hypermarket and supermarket portfolio.

The new plan sets an Ebitda target of 126 million euros by 2024, compared with 316 million euros in the previous plan, and a forecast of 920 million euros by 2028, compared with 949 million previously.

Casino shares lost 1% on Thursday morning on the Paris Bourse following these announcements, bringing their decline this year to almost 93%.

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