DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Technology

Groupe Casino Makes Bid To Acquire All Cnova Shares In US

By Steve Wynne-Jones
Share this article
Groupe Casino Makes Bid To Acquire All Cnova Shares In US

France’s Groupe Casino has made an offer to acquire for cash all outstanding ordinary shares of e-commerce firm Cnova in the US.

In a statement on its website, Casino said that it was ‘offering to acquire all outstanding Cnova ordinary shares held by holders of Cnova ordinary shares resident in the United States’, for $5.50 per share.

The so-called ‘US Offer’ expires on 25 January next.

In addition, Casino has filed a concurrent offer in France, with the French Autorité des marches financiers (AMF), in a bid to acquire all remaining shares in that country.

‘ The Cnova transaction committee and Cnova board of directors fully support the Offers and recommend that holders of Cnova ordinary shares accept the Offer and tender their Cnova ordinary shares,’ Casino said in a statement.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.