Casino to Raise its Stake from 45% to 51% of Super de Boer
This transaction, which Casino intends to complete in the course of February, reflects Casino’s confidence in Super de Boer’s operations, employees and management team led by Mr. Brouwer.
28/01/08 Casino, the French food retailer has notified the Management Board of Dutch retailer Super de Boer that it intends to acquire 7,000,000 shares (representing 6% of the share capital) from Amber at a price of € 3.8 per share.
Given the recent strategic developments on the Dutch food retail market, Casino has indeed deemed appropriate to increase its stake in Super de Boer from 45% to 51%. This transaction, which Casino intends to complete in the course of February, reflects Casino’s confidence in Super de Boer’s operations, employees and management team led by Mr. Brouwer.
As Casino is already consolidating globally Super de Boer in its consolidated financial statements since January 1st, 2008, this transaction, which represents a total cash amount of € 27m, would result into a limited financial impact for Casino.
Additionally, it is also reminded that the current Dutch public offer regulations do not require Casino to make a public offer for the remainder of the shares of Super de Boer.
