Casino Guichard: FIRST TAKE COMMENT: a guidance engraved in stone

Casino has just published a detailed response to allegations stated by Muddy Waters in which it provides a written guidance : 1/ around EUR900m 2016 EBITDA for France and 2/ a solid generation of free cash flow after financial expenses and dividends above €200m in France. Casino also detailed that 3/ the execution risk of the €2bn deleveraging plan is low given the high quality of the assets to be monetised, such as Big C Vietnam. Overall, proceeds from the deleveraging plan will reduce the group’s consolidated indebtedness.

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