While the Casino group has just officially come under the control of Daniel Kretinsky, Marc Ladreit de Lacharrière and the Attestor fund (brought together in a consortium) on Wednesday evening, its stock collapsed on the stock market Thursday morning by 67.3%, at 0.03 euros.
Since the start of the year, the Casino group's action, in the storm, has lost more than 95% and its market capitalization now stands at around 3.99 billion euros according to Factset, reports AFP. In a press release published Thursday morning, the Casino group announced “
the effective completion of its financial restructuring
”.
The task promises to be particularly difficult for the new team led by the new general director, Philippe Palazzi. The latter will have to redouble its efforts to recover this group which recorded an abysmal net loss of 5.7 billion euros for the 2023 financial year.
The new shareholders agreed to erase 5 billion euros of debt with 1.2 billion new money injected in exchange.