Press

The bond public tender offer launched on Monday June 10th, 2016 allows Casino to buyback respectively €134.2M, €158.2M and €245.0M of bonds maturing in January 2023, February 2025 and August 2026, i.e. a cumulated nominal amount of €537.4M.

Bonds purchased by Casino in the context of this transaction will be cancelled on June 15th, 2016. Nominal amounts will then be reduced to €858.7M for bonds maturing in January 2023, €449.9M for bonds maturing in February 2025 and €613.5M for bonds maturing in August 2026.

This transaction will allow the Group to reduce its gross debt and its financial costs in France as soon as 2016.

BNP Paribas, Citigroup, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, Mitsubishi IFJ Securities International, RBS, Santander and Société Générale acted as deal managers of this transaction.

Casino launched this morning a tender offer on some of its notes maturing January 2023, February 2025 and August 2026.

The indicative targeted amount of this transaction reaches 500 million euros in total.

Results will be released on next Monday, June 13th.

This transaction will allow the Group to reduce its gross debt and its financial costs as soon as 2016.

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At its meeting of 13 May 2016 and on the recommendation of the Appointments and Compensation Committee, the Board of Directors of Casino, Guichard-Perrachon (the “Company”) decided to maintain the Chairman and Chief Executive Officer’s gross fixed compensation for 2016 at €480,000, unchanged since 2013.

As per section 12 of the AMAFI liquidity contract between the company Rothschild & Cie Banque and the company Casino, Guichard-Perrachon, entered into on February 11th, 2005, and amended from time to time, the company Casino, Guichard-Perrachon has decided to proceed today with a partial withdrawal to the means allocated to the contract of 120,000 shares, in order to proceed to their cancellation.

Following an amendment to the AMAFI liquidity contrat between the company Rothschild & Cie Banque and the company Casino, Guichard-Perrachon signed on May 13th 2016 , and as per section 12 of this contrat, the company Casino, Guichard-Perrachon has decided to proceed today with a partial withdrawal to the means allocated to the contract of 580,000 shares, in order to proceed to their cancellation.

Casino Group announces its intention to launch a voluntary cash tender offer on the outstanding shares of Cnova N.V. (“Cnova”) held by public shareholders (i.e. shares not held by Casino Group) at an offer price of US$5.50, hence a maximum consideration of US$196m. This contemplated tender offer is conditional upon, amongst others, the completion of the proposed transaction, described below, between Via Varejo and Cnova (composed of Cdiscount and Cnova Brazil).

The tender offer price would represent a 82% premium to the last unaffected share price.

This announcement follows the announcements made by Cnova and Via Varejo S.A. (“Via Varejo”) concerning the possible combination of Cnova Brazil with Via Varejo. Upon the completion of the transaction, Cnova would exclusively own Cdiscount. Via Varejo would merge with Cnova Brazil and would no longer be a shareholder of Cnova. Via Varejo would thus confirm its multi-channel leadership for non-food retail in Brazil.

This transaction aims at simplifying Casino Group’s structure and would allow Cnova to refocus, through Cdiscount, on E-commerce in France, a market where it has a proven leadership position and clear growth prospects.

Casino exercised today its call option on all of the €500m mandatory convertible bonds issued by Monoprix in December 2013, and subscribed by Credit Agricole CIB.

Casino announces the closing of the sale of Big C Vietnam to Central Group, for an enterprise value of €1 billion, implying 2015 multiples of 1.8x net sales, 20.4x EBITDA and 34.4x EBIT.

The proceeds to be received by the Group will amount to €920 million.

Central Group is one of the main family-owned conglomerates in Thailand with interests in real estate, department stores, retailing, hospitality and restaurants.

Casino Group has made significant investments for more than 18 years to develop its subsidiary Big C in Vietnam and to create a leading food retailer in Vietnam. Big C Vietnam consists of a network of 43 stores and 30 shopping malls and has achieved in 2015 a turnover excluding taxes €586 million.

Big C Vietnam has built strong relationships with its Vietnamese suppliers and farmers, its customers, its employees and the local authorities and communities, which allowed the development of modern retail in the country.

Central Group in partnership with Vietnamese group Nguyen Kim will continue the strategy of Big C Vietnam notably regarding sourcing of goods produced in Vietnam for Big C stores.

Casino will continue its sourcing activity of Vietnamese food products distributed in France, Brazil and Colombia.

After the disposal of its subsidiaries Big C Thailand and Big C Vietnam, the deleveraging plan of the Group reaches €4.2 billion.

In France, good performance with +2.9% growth on organic basis and +1.5% on a same-store basis

• Géant Casino: +4.0% of growth (same-store and organic) with positive non-food sales and continuous gains in market share
• Leader Price: continuous growth at +7.2% on organic basis and +4.5% on a same-store basis, with gains in market share
• Performance of the Group’s other banners in line with Q4 2015

In Latin America, food sales up +8.3% on organic basis with a positive inflexion in Brazil (up +5.7% in Q4 2015)

• Exito (excluding Brazil): continuous accelerating growth with good performance in all countries
• GPA Food: net improvement in activity, with organic growth of +7.8%
• Via Varejo: more moderate downturn in sales

E-commerce: growth of gross merchandise volume (GMV) of +4.2% at constant exchange rates