FRANCE/NETHERLANDS: Casino confirms Laurus rescue plan
French retailer Casino reaffirmed its commitment to taking a stake in its beleaguered Dutch counterpart Laurus despite problems with the due diligence process. The due diligence process on Laurus has thrown up lower than predicted restructuring revenues and a need for additional investment. As a result, new shares to be issued in the Dutch group will be valued at €0.1 (US$0.09) lower than previously set, namely at €0.9 rather than €1.
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