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May 22, 2002

NETHERLANDS: Laurus secures financing for rescue deal with Casino

Dutch grocery giant Laurus revealed earlier today [Wednesday] that its framework lifeline deal with French retail giant Casino could now go ahead, after it secured the necessary bank funding. Company spokeswoman Monique Staals told Reuters that “financing is no problem” and that Laurus hoped to have all sections of the deal signed by 3 June.

Dutch grocery giant Laurus revealed earlier today [Wednesday] that its framework lifeline deal with French retail giant Casino could now go ahead, after it secured the necessary bank funding.

Company spokeswoman Monique Staals told Reuters that “financing is no problem” and that Laurus hoped to have all sections of the deal signed by 3 June.

However, she cautioned: “We don’t want to tie ourselves to that date in case any small details still need to be discussed.”

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