Casino welcomed as a major shareholder

Laurus N.V., has announced that together with its principal banks ING Bank, ABN AMRO Bank and Rabobank and the French retail company Casino S.A. it intends to raise, subject to shareholders and works council approval, € 400 million of new equity and to reschedule its existing bank debt into a new credit facility of up to a maximum of € 910 million. By next June, Casino will become a major shareholder in Laurus with 37.6% of the new share capital. The French group will only keep the Dutch activities and get rid of the stores in Spain and Belgium.