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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Casino Guichard-Perrachon    CO   FR0000125585

CASINO GUICHARD-PERRACHON

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Casino Shares Rise After Vesa Equity Investment Acquires 4.63% Stake

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09/05/2019 | 04:59am EDT

By Antonia Di Lorenzo

Shares in Casino Guichard-Perrachon SA (CO.FR) rose Thursday after the French retailer said that Czech businessman Daniel Kretinsky and his partner Patrik Tkac acquired a 4.63% stake through their investment firm Vesa Equity Investment Sarl.

"This acquisition of a stake in Casino Guichard-Perrachon reflects our conviction that it is the best-positioned retail group on the French market and one of the European leaders best placed to respond to the profound sector transformations," Mr. Kretinsky said.

Casino shares rose on the news, trading 5.0% higher at EUR43.05 at 0832 GMT.

Analysts at Bernstein noted that according to French regulations, companies don't need to disclose a shareholding of under 5%. It called the release of the news "confidence building."

While the company wants to assure investors that its future is secure, "most investors are not convinced of that message," Bernstein said. Some analysts, including HSBC, have cast doubt on Casino's asset-sale strategy, saying it could jeopardize its position long-term.

Casino Chief Executive Jean-Charles Naouri said he would propose appointing a Vesa representative to the board of directors.

Messrs. Kretinsky and Tkac hold other joint investments in the European media and e-commerce sectors, Casino said. According to the company, they hold a 17.52% stake in Metro AG Group and options to increase it, as well as a 40% stake in Mall Group, an e-commerce company active in Central and Eastern Europe.

Write to Antonia Di Lorenzo at antonia.dilorenzo@wsj.com; @AntoniaDL89

Stocks mentioned in the article
ChangeLast1st jan.
CASINO GUICHARD-PERRACHON 2.45% 46.87 Real-time Quote.28.98%
CECONOMY 0.95% 5.31 Delayed Quote.68.79%
HSBC HOLDINGS PLC 0.72% 630.7 Delayed Quote.-2.50%
METRO 0.10% 14.765 Delayed Quote.10.23%
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Financials (EUR)
Sales 2019 37 283 M
EBIT 2019 1 277 M
Net income 2019 87,0 M
Debt 2019 3 045 M
Yield 2019 3,33%
P/E ratio 2019 138x
P/E ratio 2020 67,9x
EV / Sales2019 0,22x
EV / Sales2020 0,22x
Capitalization 5 043 M
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Technical analysis trends CASINO GUICHARD-PERRACHON
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 37,42  €
Last Close Price 46,87  €
Spread / Highest target 19,5%
Spread / Average Target -20,2%
Spread / Lowest Target -50,9%
EPS Revisions
Managers
NameTitle
Jean-Charles Henri Naouri Chairman & Chief Executive Officer
Julien Lagubeau Chief Operating Officer
Antoine Marie Remi Giscard-d'Estaing Chief Financial Officer & CEO-Corporate Finance
Gilles Pinoncély Non-Independent Director
Gérald de Roquemaurel Independent Director
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