Press - 2011

16 June 2011

Increase in Casino’s holding in Grupo Pão de Açúcar (GPA)

Casino group announces today that it informed GPA that it increased its holding by 8.6 million preferred shares, which corresponds to 3.3% of GPA share capital. As of today, its total economic holding, including ordinary shares, amounts to 37% of GPA share capital.
This operation shows the Group’s continuing commitment towards GPA and its trust in its Executive team. Casino thus reiterates its intent to strengthen GPA’s long term development as well as the Group’s positions in fast-growing markets.
This acquisition does not change the corporate control of GPA, which continues to be exercised by Wilkes* in line with the provisions contained in both the Wilkes’ Shareholders Agreement, dated as of November 27, 2006, and the GPA’s one, dated as of December 20, 2006.

Saintt-Etienne, 16 June 2011

Casino
Casino is a leading food retailer in France and abroad. At 31 December, 2010, it operated a total of 11,663 stores in various retail formats. France accounts for 62% of Group’s revenue and 59% of its trading profit, and international markets, where it operates in 8 countries for 38% of Group’s revenue and 41% of its operating profit.
In 2010, consolidated revenue totaled €29 billion, while net earnings (Group share) totaled €559 million.
Casino is listed on the Paris Stock Exchange.

GPA
Grupo Pão de Açucar (GPA, historic player in the Brazilian retail market, has a multi-format, multi-banner portfolio. At the end of 2010, GPA operated a total of 1,647 stores, with strong market positions in Brazil’s two most economically vibrant states, São Paulo and Rio de Janeiro. GPA posted revenue of €13,751 million in 2010. GPA has been proportionately consolidated by Casino since 1 July 2005.
GPA is listed on the São Paulo Stock Exchange and on the New York Stock Exchange.

*Controlling holding of GPA, co-controlled by Casino Group and Diniz Group.

Investor Relations
Régine GAGGIOLI rgaggioli@groupe-casino.fr +33 (0)1 53 65 64 17
Aline NGUYEN anguyen@groupe-casino.fr +33 (0)1 53 65 64 85

31 May 2011

Casino Group announced that it has filed a request for arbitration at the International Chamber of Commerce against the Diniz Group

Casino has filed on 30 May 2011 a request for arbitration under ICC Rules against the Diniz Group, requesting notably theDiniz group to comply with and perform its obligations under the shareholders’ agreement dated as of 27 November 2006 and relating to their common company Wilkes, the controlling shareholder of the Brazilian company CBD.

Saint-Etienne, le 31 mai 2011

Investor relations

Régine GAGGIOLI
rgaggioli@groupe-casino.fr / +33 (0)1 53 65 64 17

Aline NGUYEN
anguyen@groupe-casino.fr / +33 (0)1 53 65 64 85

18 May 2011

Casino’s stake in GPA increased to 33.7% following the issuance of new shares in connection with the tax saving generated by the amortization of part of the goodwill related to the acquisition of GPA

 

On March 31st 2011, GPA’s general shareholders meeting approved the issuance to Casino of 1.4 million new preferred shares at the price of BRL 62.43 per share(1), for a total value of BRL 85 million (EUR 36 million). This issuance was completed in May after the exercise of the pre-emptive rights of GPA’s shareholders. Casino received 626,360 preferred shares and BRL 45 million in cash.

This issuance follows those announced on May 4th 2009 and June 21st 2010 in the context of the agreement signed in May 2005 with Abilio Diniz’ Family. Under the terms of this agreement, in late 2006, Casino contributed to GPA the goodwill arising on its successive investments in the company.

This goodwill amortisation generates tax savings for GPA since 2008 and for an estimated period of 6 years. In exchange for the goodwill contributed, GPA agreed to transfer back to Casino 80% of such tax savings, in the form of newly issued preferred stock. At the end of the goodwill amortisation, Casino’s interest in GPA will reach approximately 34.4%(2) based on the current share price.

Saint-Etienne – May 18th, 2011

(1) Volume weighted average share price over the 15 trading days prior to the date of the General Meeting call notice.
(2) If minority shareholders exercise in the future their pre-emptive subscription rights, GPA will repay in cash that part of Casino’s share of the tax savings, thereby reducing the accretion effect in Casino’s stake in the company.

 

Investor Relations

Régine GAGGIOLI

Aline NGUYEN
anguyen@groupe-casino.fr
+33 (0)1 53 65 64 85

 rgaggioli@groupe-casino.fr
+33 (0)1 53 65 64 17

18 May 2011

Successful 10-year bond issue of € 850 million

Casino successfully issued today a new 10-year bond of €850 million.

In this respect, €300 million of the bonds maturing in February 2012 (with a coupon of 6.0%), April 2013 (with a coupon of 6.375%) and April 2014 (with a coupon of 4.875%) were exchanged.
The new €850 million bond issue maturing in 2021 has a 4.726% coupon, equivalent to mid-swap +130bp. Significantly oversubscribed, it also enabled to raise €530 million of new money.

The average maturity of the Group’s bond debt is extended to 4.6 years (vs 3.4 years previously) and its average financing cost optimized.

The deal was led by Citi, Deutsche Bank, HSBC, JPMorgan, Natixis, and RBS acted as joint bookrunners.

Casino Group is rated BBB- stable by Fitch Ratings and Standard & Poor’s

Paris, 18 May 2011
Investor Relations

Régine GAGGIOLI
rgaggioli@groupe-casino.fr
+33 (0)1 53 65 64 17

Aline NGUYEN
anguyen@groupe-casino.fr
+33 (0)1 53 65 64 85

12 April 2011

First-quarter 2011 sales

9 March 2011

Casino Group reaches milestone of 10% disabled workforce and renews its “Handipacte” agreement

In conjunction with the assessment of its 4th “Handipacte” agreement covering the period 2006-2010, Casino announced that it has reached the symbolic milestone of a 10% disabled workforce (compared to a legal obligation of 6%) in the stores covered by the Group agreement.

This is the result of a deliberate policy to promote employment for people with disabilities which the Casino Group and its employees have been pursuing for the last 15 years.

Results that go far beyond commitments

A total of 520 people with disabilities were recruited during this period, exceeding the target (300 people) agreed with the social partners by 173%. With regard to its other commitments, Casino went the extra mile by taking on 418 trainees, compared to a target of 350 over the term of the agreement, thus achieving a 10.07% disabled workforce in the stores covered by the Group agreement.

The Group’s efforts in this area are part of a drive for sustainable employment: 96% of its employees with disabilities are on open-ended contracts.

 A renewed agreement

On 1st January 2011, the Group renewed the “Handipacte” agreement with the social partners for a period of 3 years. The agreement is currently being accredited by DIRECCTE (Regional Directorate for business, competition, consumer affairs, work and employment). It envisages hiring 180 people, taking on 180 trainees and launching innovations focusing on :

  • developing sandwich courses and apprenticeships,
  • implementation of accessibility and digital measures
  • a trial project involving part-financing the adaptation of the personal vehicle of an employee’s spouse or child who is legally disabled.

The Group now intends to build on these achievements with new initiatives to cater for customers with disabilities.

Further information on the Casino Group: Casino Group was awarded the “Diversity Label” in 2009.

To find out more: Press Contact

 

1 March 2011

2010 full-year results of Casino group





 

10 February 2011

Franprix – Leader Price : New decision by the Court of Arbitration in the dispute between Casino and the Baud Family

Casino a eu connaissance ce jour d’une nouvelle décision arbitrale rendue dans le litige l’opposant à la famille Baud.

Casino has been informed today that the Court of Arbitration has handed down a new decision concerning the dispute between Casino and the Baud family.

Casino is pleased to note that the Court of Arbitration has rejected out of hand the Baud family’s claim for payment of Franprix and Leader Price dividends for 2006 and 2007, due to the observed errors and irregularities in their financial statements.

As a result of this new decision, Casino will be required to pay only €34 million, corresponding to (i) the Franprix and Leader Price dividends for 2008, (ii) additional consideration for the Franprix and Leader Price shares previously acquired by Casino and (iii) late interest over and above the €18 million already paid to the Baud family. This amount of €34 million is significantly less than the €67 million provision that had been booked in the Casino Group’s accounts.

The Baud family’s initial claim in respect of the above totalled more than €140 million.

Paris, 10 February 2011

Investor Relations
+ 33 (0)1 53 65 64 18

6 January 2011

Casino acquires Charle brothers’ stake in Cdiscount

Hervé, Christophe and Nicolas Charle, Casino’s partners in Cdiscount since 2000, have decided to sell their remaining 18.6% stake to Groupe Casino, which now holds a 99.6% interest in the company.

The Charle brothers, who are planning to pursue other business projects, will also give up their operating responsibilities at Cdiscount, which will continue to be managed by Olivier Marcheteau, Chairman of the Board of Directors, and Emmanuel Grenier, Managing Director.

Paris, 6 January 2011

Investor Relations :

Nadine Coulm
ncoulm@groupe-casino.fr
+33 (0)1 53 65 64 17

Aline Nguyen
anguyen@groupe-casino.fr
+33 (0)1 53 65 64 85

Press Relations :

Frédéric Croccel
fcroccel@groupe-casino.fr
+33 (0)1 53 65 24 39