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France – French Ministry approves deal between Casigrangi and Société française de Casinos

By - 9 November 2020

The French Ministry of the Interior has approved the deal for Casigrangi to acquire at least 79.37 per cent of the share capital and voting rights of Société française de Casinos (SFC).

The SFC said it ‘had informed its shareholders that the planned acquisition of Casigrangi was conditional on the fulfilment of several conditions precedent including the acquisition of at least 50.1 per cent of the share capital and voting rights of SFC and approval of the acquisition project by the Ministry of the Interior.’

“Groupe Circus has been entirely dismissed of its requests by the Paris Commercial Court aimed at forcing Frameliris to conclude a deed of sale under the terms of which the Circus Group would acquire all of the Company’s shares held by Frameliris at a price of 1.50 euros, and to prohibit the sale of the company’s securities held by Frameliris to any person other than the Circus Group (and therefore, in fact, to prohibit the sale of said securities to Casigrangi).

The Circus Group has appealed.

SFC added: “Insofar as Frameliris has confirmed to Casigrangi the free transferability of the shares it holds in SFC, SFC and Casigrangi consider that these ongoing procedures of Groupe Circus do not preclude the continuation of the acquisition project. by Casigrangi. Some customary technical conditions precedent remain to be lifted in order to finalise the acquisition transaction planned by Casigrangi.”

Caption: SFC’s casino in Châtel-Guyon

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