A French court has moved to settle the dispute between Casino and the Baud family over the latter relinquishing its stake in the French retailer’s discount chain, Franprix-Leader Price.

“Casino is pleased to note that the Court of Arbitration has rejected out of hand the Baud family’s claim for payment of Franprix and Leader Price dividends for 2006 and 2007, due to the observed errors and irregularities in their financial statements,” the group said.

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Casino will be required to pay EUR34m (US$46m) in addition to the EUR18m already paid to the Baud family.

This sum compares favourably to the EUR67m provision that Casino had set aside in its accounts and the Baud family’s initial claim, which totalled more than EUR140m, the company said.

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