From Nasdaq, Inc.:

The European Commission has approved the consortium led by Czech billionaire Daniel Kretinsky to gain control of Casino, a debt-laden retailer, as part of its restructuring plan. Once completed, the consortium will own and control 53.7% of Casino’s share capital, massively diluting current shareholders. Additional regulatory approvals are required, including an authorization from the French finance ministry and a waiver from the stock market regulator to avoid formal public takeover proceedings. Casino has also entered exclusive talks to sell its big stores in France to Les Mousquetaires and Auchan Retail.



Read more: EU clears Kretinsky-led consortium taking control of Casino