Cnova N.V.: Extension of Conciliation Proceedings
CNOVA N.V. extends conciliation proceedings and Casino Group updates 2024-2028 business plan.
Positive
Extension of conciliation proceedings at Cdiscount level.
President of Paris Commercial Court grants extension.
Casino Group releases updated 2024-2028 business plan.
09/22/2023 - 12:59 PM
CNOVA N.V. – Extension of the conciliation proceedings and 2024-2028 business plan update by Casino Group
Amsterdam – September 22, 2023, 19:00 CET – Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova” or the “Company”) and its Board of Directors announce the extension of the conciliation proceedings at Cdiscount level.
On September 20, 2023, the French Company’s subsidiaries: Cdiscount, Maas, C-Shield, C-Technology, C-Logistics, Carya and CLR, requested from the President of the Paris Commercial Court a one-month extension of the conciliation proceedings opened to their benefits, or until October 25, 2023. These extensions of conciliation proceedings are part of the more global context of the extension of conciliation proceedings obtained on September 20 at Casino Group level.
On September 22, 2023, the President of the Paris Commercial Court therefore decided to grant the request for an extension and maintained SELARL BCM (Me Eric Bauland) and SCP BTSG² (Me Marc Sénéchal) as conciliators.
Furthermore, on September 20, 2023, Casino Group released a presentation on its website regarding the Group's updated 2024-2028 business plan which includes a degree of prudence regarding Cnova business plan1 .
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About Cnova N.V.
Cnova N.V., the French ecommerce leader, serves 8.1 million active customers via its state-of-the-art website, Cdiscount. Cnova N.V.’s product offering provides its B2C clients with a wide variety of very competitively priced goods, fast and customer-convenient delivery options, practical and innovative payment solutions as well as travel, entertainment and domestic energy services. Cnova N.V. also serves B2B clients internationally through Octopia (Marketplace-as-a-Service solutions), Cdiscount Advertising (advertising services for sellers and brands) and C-logistics (end-to-end logistic ecommerce solution). Cnova N.V. is part of Groupe Casino, a global diversified retailer. Cnova N.V.'s news releases are available at www.cnova.com. Information available on, or accessible through, the sites referenced above is not part of this press release. This press release contains regulated information (gereglementeerde informatie) within the meaning of the Dutch Financial Supervision Act (Wet op het financieel toezicht) which must be made publicly available pursuant to Dutch and French law. This press release is intended for information purposes only.
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1 https://www.groupe-casino.fr/wp-content/uploads/2023/09/2023.09.20-Presentation-Cleansing-vEng.pdf
