Casino shares suspended, news on debt deal expected soon
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Kretinsky, who made his fortune in the energy sector with a string of high-stakes purchases and now owns a house near the Elysee Palace in Paris, is also in talks to become the biggest shareholder in French IT consulting firm Atos. The 2016 takeover of Vattenfall's German mines and 8,000 megawatt coal power plants is one example, where Kretinsky received 1.7 billion euros ($1.8 billion) in cash to buy the assets and the Swedish group booked a large loss on the deal.
PARIS, Oct 4 (Reuters) - Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent. Don't let fear and uncertainty keep you from participating. Of course, severe drops can happen in times of low interest rates as well. Even poor market timers make money if they buy good companies.
Look for red flags in the financial news, such as the beginning of the recent housing slump or the international credit crisis. Remember that the market goes up more than it goes down. In case you adored this short article in addition to you desire to obtain more details relating to philucky online casino i implore you to check out our own web site. He is also facing political headwinds in his quest to buy Atos' legacy operations in France and failed to win the auction for German utility Steag earlier this year, sources with knowledge with the situation said. At the very least, know how much you're paying for the company's earnings, how much debt it has, and what its cash flow picture is like.
But, after you've bought the stock, continue to monitor the news carefully. Don't panic over a little bit of negative news from time to time. Nearly every company has an occasional setback. 3) Do your homework. Study the balance sheet and annual report of the company that's caught your interest. Read the latest news stories on the company and make sure you are clear on why you expect the company's earnings to grow.
If you don't understand the story, don't buy it. The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye. In July, France's sixth largest retailer reached an agreement in principle with a consortium led by Kretinsky's company EPGC - alongside Casino's biggest creditor Attestor, and second-biggest shareholder Fimalac - to restructure its 6.4 billion euros ($6.7 billion) debt pile.
Companies under Kretinsky's control or joint control had core operating profits (EBITDA) of more than 9 billion euros last year and assets of more than 80 billion euros, an EPH spokesperson said. EPH reported earnings before interest, tax, depreciation and amortisation of 4.3 billion euros for 2022. Kretinsky's Prague-based holding firm employs around 250 people, with only a small plaque to signal its presence on the appropriately-named boulevard-style Paris Street.
It is run by a loyal inner circle of managers, some with small equity stakes.
PARIS, Oct 4 (Reuters) - Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent. Don't let fear and uncertainty keep you from participating. Of course, severe drops can happen in times of low interest rates as well. Even poor market timers make money if they buy good companies.
Look for red flags in the financial news, such as the beginning of the recent housing slump or the international credit crisis. Remember that the market goes up more than it goes down. In case you adored this short article in addition to you desire to obtain more details relating to philucky online casino i implore you to check out our own web site. He is also facing political headwinds in his quest to buy Atos' legacy operations in France and failed to win the auction for German utility Steag earlier this year, sources with knowledge with the situation said. At the very least, know how much you're paying for the company's earnings, how much debt it has, and what its cash flow picture is like.
But, after you've bought the stock, continue to monitor the news carefully. Don't panic over a little bit of negative news from time to time. Nearly every company has an occasional setback. 3) Do your homework. Study the balance sheet and annual report of the company that's caught your interest. Read the latest news stories on the company and make sure you are clear on why you expect the company's earnings to grow.
If you don't understand the story, don't buy it. The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye. In July, France's sixth largest retailer reached an agreement in principle with a consortium led by Kretinsky's company EPGC - alongside Casino's biggest creditor Attestor, and second-biggest shareholder Fimalac - to restructure its 6.4 billion euros ($6.7 billion) debt pile.
Companies under Kretinsky's control or joint control had core operating profits (EBITDA) of more than 9 billion euros last year and assets of more than 80 billion euros, an EPH spokesperson said. EPH reported earnings before interest, tax, depreciation and amortisation of 4.3 billion euros for 2022. Kretinsky's Prague-based holding firm employs around 250 people, with only a small plaque to signal its presence on the appropriately-named boulevard-style Paris Street.
It is run by a loyal inner circle of managers, some with small equity stakes.
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