|Bid||5.39 x 0|
|Ask||5.53 x 0|
|Day's range||5.26 - 5.54|
|52-week range||4.81 - 17.08|
|Beta (5Y monthly)||0.98|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||09 May 2019|
|1y target est||N/A|
A European derivatives committee said on Monday that a bankruptcy credit event has not occurred in relation to France's debt-laden Casino, dashing investor hopes for a payout on credit insurance linked to the retailer. The EMEA Credit Derivatives Determination Committee (CDDC) met on Friday to discuss the question raised by an investor, it said on its website. The heavily-indebted French retailer said last month it had entered court-backed talks with creditors after receiving their consent to open a court process known as conciliation without triggering a default under the terms of Casino issued bonds.
(Bloomberg) -- French grocer Casino Guichard Perrachon SA is beginning court-supervised talks with its creditors, a process that could clear the way for the debt-laden company to land an equity investment from Czech investor Daniel Kretinsky. Most Read from BloombergEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEurope’s Economic Engine Is Breaking DownCredit Suisse Loses Singapore Case Against Georgian Billionai
By Scott Kanowsky
By Scott Kanowsky
Casino's preliminary talks with Teract to combine their French retail activities perplexes some analysts, who say a deal wouldn't address the supermarket group's urgent need to slash debt. Casino, controlled by 73-year-old Jean-Charles Naouri, faces a wall of debt, starting with about 1.3 billion euros ($1.42 billion) of secured and unsecured bonds due next year for French activities, according to credit rating firm S&P. It recently cut its rating for Casino, highlighting the company's need "to fix the current cash burn." Naouri has pledged to sell 4.5 billion euros' worth of assets at Casino - owner of the Monoprix, Franprix and Naturalia brands - by the end of this year, 90% of which had already been completed by last October.
The tie-up will allow partners of Ocado’s smart app around the world to launch their own marketplaces.
Ocado has extended its partnership deal with French retailer Groupe Casino, the British online supermarket and technology group said on Thursday. Groupe Casino will also use Ocado's in-store fulfilment technology in its Monoprix stores. Ocado will integrate Octopia's marketplace platform into its Ocado Smart Platform (OSP), and allow OSP partners around the world to launch their own marketplace offerings.