Casino agrees with Auchan, Les Mousquetaires on sale of its big stores

Posted on by mickiel8643857

PARIS, Jan 24 (Reuters) – French retailer Casino on Wednesday said it had reached agreements with Auchan Retail and Intermarche parent company Groupement Les Mousquetaires on the sale of “almost all” of its hypermarkets and supermarkets.

It added that these agreements provide for the sale of 288 stores (and the service stations attached to these stores), based on an enterprise value of between 1.3 billion and 1.35 billion euros ($1.42 billion to 1.47 billion).

The disposals will take place in the second quarter of 2024, after consultation with unions, the company said.

The operation is set to leave Casino with upmarket brand Monoprix as well as Franprix, which also focuses on city-centre stores.

Casino also said Groupement Les Mousquetaires and Auchan have undertaken to take over the employment contracts of staff assigned to the transferred stores and service stations, and to maintain existing labour agreements for 15 months.

Les Mousquetaires (LM) and Auchan said in a joint statement that LM would take over 190 stores and Auchan 98 stores. They added that the operation would safeguard 12,000 jobs in the stores and would be finalised in the coming months.

In a separate statement, retailer Carrefour said it had started exclusive negotiations with Groupe Intermarche to acquire 31 stores which generated sales of around 400 million euros in 2022. It gave no detail on the price.

It added it had also committed to maintain all employees working in the stores and their social benefits for a minimum period of 15 months.

The restructuring of the debt-ridden French retailer by a consortium led by Czech billionaire Daniel Kretinsky will massively dilute current shareholders and will end the 30-year reign of Jean-Charles Naouri, who controls Casino through his listed holding company Rallye.

Kretinsky’s consortium will own and control 53.7% of Casino’s share capital under the deal, which calls for 1.2 billion euros of new money to be injected into Casino, as well as a 6.1 billion euro reduction of Casino’s debt.

Casino stock was suspended ahead of the statement. It closed at 0.6 euros on Tuesday, following a years-long slide that took it down from around 23 euros at the end of 2021 and 96 euros per share mid-2014. It traded as high as 114 euros at the end of 1999.

($1 = 0.9167 euros) (Reporting by Geert De Clercq, editing by Tassilo Hummel and David Evans)

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Former Los Angeles council member sentenced to 13 years in prison…

Posted on by joeann19j69

LOS ANGELES (AP) – A former Los Angeles City Council member was sentenced Friday to 13 years in prison for a pay-to-play bribery scandal involving real estate development projects.

José Huizar, 55, was sentenced by U.S. District Judge John F. Walter, who also ordered him to pay $443,905 in restitution to the city and $38,792 to the IRS.

Prosecutors said in a sentencing memorandum that Huizar chose “to place his own lust for money and power above the rights and interests of the people he was elected to serve.”

Huizar pleaded guilty a year ago to racketeering conspiracy and tax evasion.

Prosecutors said that from 2013 to 2017, Huizar masterminded a $1.5 million scheme tied to the approval of downtown high-rise developments while he chaired the city´s powerful Planning and Land Use Management Committee.

Huizar was accused of giving favorable treatment in exchange for cash, casino gambling chips, luxury stays in Las Vegas, expensive meals, prostitution services, flights, concert and slots games online sports tickets, political contributions and funds to settle a sexual harassment lawsuit.

Multiple other individuals and companies were charged alongside Huizar or in related cases. Three have been sentenced, and five are awaiting sentencing. One has a pending retrial, slot online games and another is a fugitive.

Huizar must surrender to federal authorities by April 30.

His scheme was among a string of scandals that rocked the 15-member council in recent years.

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How Do I Choose an Online Casino?

Posted on by wilbertegq

Those that are new to online gambling will soon discover that there are a lot of casino websites to choose from. Playing your favorite games on the internet is a good way to unwind at home and enjoy some downtime. You can escape from reality for a few hours and have fun. You may even win some money in the process.

Gambling

So, how do you choose an online casino? Here are some tips that will keep you safe online and let you play your favorite casino games at home.

Read Reviews

One good way to find reputable online casinos is to read reviews. The internet can provide you with a wealth of information and this includes people documenting their experience with gambling. Take a look online and do some research on an online casino before playing. If there are a lot of positive comments said about their website, this is a good sign and it can give you peace of mind. Likewise, if there are bad reviews, it may be best to find another online casino website to play on at home.

Check the License

Before you play, you want to ensure the online casino you are using is licensed. After all, you want to gamble legally, as well as know they are going to look after your personal details that you enter. Online casinos that are licensed are going to tell you about it. You should find this information freely on their website. For example, at the bottom of the homepage on the Unibet website for example, it outlines that they are authorized by the State of New Jersey and in accordance with the Casino Control Act. In addition, they are licensed by the New Jersey Division of Gaming Enforcement. Licensing plays a key role and without which you cannot proceed to doing anything regarding a casino. Like we said earlier it’s primary to check licensing of a casino before betting on anything.

Look at the Payment Methods

A good idea is to look at the payment methods for an online casino. This is going to be what you are going to use to make deposits to play, as well as withdraw any winnings. Of course, it is good to have a choice of the payment method you want to use. But, it can also be an indicator of whether you should trust the website. For example, you want to look for popular payment methods such as VISA, Mastercard and PayPal. Therefore, before you start playing, take a look on the homepage to see what the payment methods are for peace of mind. The verification of a payment method is also very important as much as other things. From making payments to drawing payments, there has to be a legit payment method verfiied and secured.

Look at Security

Remember that you are going to be entering a lot of personal details when you are gambling online. Therefore, you want to find an online casino that is safe and going to allow you to feel comfortable to game. Look at the security measures the website is taking. In particular, look for the SSL certification. This is going to make sure that your information is encrypted and safe. You will know that a website has this by looking for the padlock symbol in the search bar. The website might also tell you about the security they have in place. Many people get robbed of their money, if there are no secure methods your funds and cards would be at potential risks. So it’s a primary duty of every player to check each detail before taking any action. From entering with your cards to drawing money security has to be checked.

All these things are necessary to look after while playing online. The online casino games do not just provide you opportunities to have a good time but they at some point add up to a good income if you know the game. So it make all the possibilities thrive you must know the methods that help you make them happen. You never know when the thunder bolt is going to fall upon your bet and you are going to lose the money. But our suggestions will make you earn a regular income every time you play. You just have to use your senses well and make the right decisions. The success is assured. There is no any other sure way to win the games but with these simple to use tips you can make tons of money every time you play.

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