French retailer Casino finalizes rescue deal led by Czech tycoon
The Casino - film - was created in 1972. On Thursday Casino said the binding debt deal was reached with the consortium led by Kretinsky's company EPGC alongside Casino's biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer's secured creditors. Casino will formally change hands at the end of March next year. The deal massively dilutes shareholders and will bring to an end the 30-year reign of 74-year-old Naouri, who controls Casino through his listed holding company Rallye.
in the old native time they used to call niagara falls by "nigagariga." Niagara falls is 12000 years old. Often, however, paying careful attention to financial statements will disclose hidden problems. 2) The individual investor is sometimes the victim of unfair practices, but he or she also has some surprising advantages. No matter how many rules and regulations are passed, it will never be possible to entirely eliminate insider trading, dubious accounting, and other illegal practices that victimize the uninformed.
Moreover, good companies don't have to engage in fraud-they're too busy making real profits. The retailer, which is now France's sixth-largest supermarket group, said it planned to pursue discussions with the financial creditors not yet party to the lock-up agreement to get them to sign up to it too. Casino's Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer's stores. Footfall in Casino supermarkets was up 4% over the past four weeks, the company said.
"It's just a big gambling game," some say. "The whole thing is rigged." There may be just enough truth in those statements to convince a few people who haven't taken the time to study it further. One of the more cynical reasons investors give for avoiding the stock market is to liken it to a casino. 25 to obtain from a commercial court the start of an accelerated safeguard procedure under which it could approve the plan with the support of secured creditors and compel reluctant creditors to follow.
Casino reiterated it had until Oct. Thursday's announcement finalizes a July agreement in principle which called for 1.2 billion euros ($1.26 billion) of new money to be injected into Casino, as well as a reduction of Casino's debt by 6.1 billion euros. Imagine, too, that all the games are like black jack rather than slot machines, in that you can use what you know (you're an experienced player) and the current circumstances (you've been watching the cards) to improve your odds.
In case you loved this post and you want to receive more info about z16 เครดิตฟรี i implore you to visit our own web site. 1) Yes, there's an element of gambling, but- Imagine a casino where the long-term odds are rigged in your favor instead of against you. Now you have a more reasonable approximation of the stock market. "Casino has reached a major milestone in its financial restructuring process by obtaining the agreement of its main creditors on a financial restructuring plan," CEO and controlling shareholder Jean-Charles Naouri said in a statement. 2) When inflation and interest rates are soaring, the market is often due for a drop...be alert.
High interest rates force companies that depend on borrowing to spend more of their cash to grow revenues. If investors can earn 8% to 12% in a money market fund, they're less likely to take the risk of investing in the market.