SFC confirms signing of the final agreement relating to the acquisition by Merkur

The sale is expected to be finalised in the first half of 2027

The French Casino Company (SFC) has confirmed the signing of the final sale agreement on September 17, 2026, relating to the acquisition by Merkur Spielbanken Beteiligungs GmbH, a subsidiary of MERKUR.COM, wholly owned by the Gauselmann Family Foundation ( Gauselmann Familienstiftung ), of a 95 per cent stake in the capital of Casigrangi from GPG Groupe Philippe Ginestet and DOFA.

The deal is likely to trigger a full takeover of the French operator Société Française de Casinos. Casigrangi owns seven small to medium-sized casinos. Three are operated directly, namely Megève, Granville and Mimizan. The other four are operated through Société Française de Casinos. They are Gruissan, Port-la-Nouvelle, Collioure and Châtel-Guyon.

The Social and Economic Committee of the Gruissan Casino issued a favorable opinion on the transaction on September 2, 2026, and the mandatory employee information procedure for Casigrangi was completed on September 7, 2026.”

“Casigrangi currently holds 4,135,434 SFC shares, representing approximately 81.21% of SFC’s share capital and voting rights. The price to be paid by Merkur to the Sellers for the transaction would result in a price on a look-through basis of €6.19 per SFC share,” the press release continues, adding that “the completion of the transaction remains subject to customary regulatory approvals (including the authorization from the Ministry of the Interior required under Article L. 323-3 of the Internal Security Code), as well as other conditions, including the completion of certain internal restructuring operations.”

If this sale is completed, “Merkur will be required to launch a simplified public tender offer for the remaining SFC shares not held by Merkur, directly or indirectly, in accordance with applicable regulations. In this regard, the French Financial Markets Authority (AMF) has published a notice regarding the start of the pre-offer period on August 28, 2026.”

“The offer would be filed with the AMF at the same price per SFC share as that adopted on a transparency basis for the transaction, i.e., a cash consideration of €6.19 per SFC share. If the legislative and regulatory conditions are met at the end of the Offer, Merkur intends, at this stage, to request the implementation of a mandatory delisting procedure for SFC and to remove SFC from the stock exchange,” it is further explained, before adding that “in any case, the SFC board of directors will establish an ad hoc committee to supervise and facilitate the work of the independent expert who will be appointed in accordance with Article 261-1 I of the AMF’s general regulations, and to prepare a draft reasoned opinion on the merits of the offer and its consequences for SFC, its shareholders and its employees.”

SFC indicates that if it goes ahead, Journal de Casinos reports that the sale will be finalised during the first quarter of 2027. “In this scenario, the offer could be submitted to the AMF during the first half of 2027. It would then be opened once the AMF’s compliance decision has been obtained and in accordance with the timetable that will be published by the AMF,” concludes SFC.