Casino Group said the Enterprise Chamber of the Court of Appeal in Amsterdam, the Netherlands rendered its judgment in the buy-out proceedings initiated by the company against the other shareholders of Cnova N.V. The Enterprise Chamber ruled that 0.09 euros is a fair buy-out price per share in Cnova and ordered all shareholders to transfer their shares in Cnova to Casino, in exchange for a payment of 0.09 euros per share in cash, to be increased by statutory interest from 30 June 2024 until the date of transfer of the shares or the date of consignment.
Casino said, on or shortly after the end of the period for voluntary transfer, it will enforce the judgment against all shareholders who did not participate in the voluntary transfer, by paying the aggregate buy-out price for the remaining shares in Cnova to the consignment fund of the Dutch Ministry of Finance, as a result of which such shares will be transferred to Casino.
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