Retailer Casino's shares slump as Rallye's stock gets suspended

Fonciere Euris SA

23/05/2019 09:13

PARIS, May 23 (Reuters) - Shares in indebted French
supermarket retailer Casino  CASP.PA  slumped on Thursday, as
trading in the shares of Casino's parent company Rallye
 GENC.PA  were suspended.
    Casino shares were down 6.1 percent by 0825 GMT.
    A spokesman for Casino said Rallye would make a statement
later on, but declined to provide further details.
    Casino, which already had its credit rating cut to junk by
Standard & Poor's in March 2016, has embarked upon asset sales
to reduce its debt and ease concerns over the financial position
of both Casino and its parent holding company Rallye.
    The shares of Finatis  LINP.PA  and Fonciere Euris
 LOEX.PA , which are also companies linked to Casino chairman
and chief executive Jean-Charles Naouri, were also suspended.

 (Reporting by Sudip Kar-Gupta and Blandine Henault;
Editing by Dominique Vidalon)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))