The holding Rallye, parent company of Casino, announced Monday the conclusion of an agreement with the diversified group Fimalac for the refinancing of its derivative operations and a potential investment of Fimalac in the property Euris.
"As part of this agreement, Fimalac has committed to provide financing with a four-year maturity, either to a Euris subsidiary until December 31, 2020, or to Rallye no later than January 5, 2021 in order to allow the reimbursement of all derivative transactions entered into by Rallye, HMB and Cobivia, which are not subject to the backup plans of said companies ”, it was explained in a joint press release.
The maximum amount of this financing line is 215 million euros, it is specified.
The agreement also provides that Fimalac, headed by businessman Marc Ladreit of Lacharrière, will have the capacity for a period of seven years to invest up to 49.99% in Euris through a new holding company which would be owned by Jean-Charles Naouri, the CEO of Casino and would control Euris.