Casino - comment

There was some concern about debt falling due at entities below Rallye this year causing the need to dividend money from Casino and Rallye to satisfy the debt repayment. This is no longer the case as the companies announced a debt extension earlier this week. Foncière Euris and Euris have obtained an agreement in principle from their banks on an extension of the maturity of all their receivables and instruments not subject to the safeguard plan. c.€52m of debt at Foncière Euris and €16.7m of debt at Euris was due for repayment in December 2022 and this has now been extended by 2 years to December 2024. Foncière Euris and Euris will publish the new repayment schedule when the agreement comes into force.

Separately, Ocado Group has extended its partnership with Casino to create a JV to provide logistics services to Fulfilment Centre in France. This extension includes partnership to integrate Octopia’s marketplace platform into Ocado Smart Platform.