Casino Shares Halted After Parent Company's Woes Drag
May 23 2019 - 5:19AM
Dow Jones News
By Cristina Roca
Shares in Casino Guichard-Perrachon SA (CO.FR) were halted
following a sharp fall on Thursday, after shares in its parent
company, Rallye SA (RAL.FR), were suspended from the Euronext Paris
exchange.
The stock-exchange operator said in a press release on Wednesday
that trading in Rallye shares would be suspended on Thursday at the
company's request, pending the publication of a press release. The
announcement came as shares in the debt-ridden company hit an
all-time low of EUR7.47 on Wednesday, and ended the day 7.1%
lower.
Trading of shares in Casino--in which Rallye holds over 51%--was
also halted Thursday at 0831 GMT at the request of the issuer, a
Euronext Paris spokeswoman confirmed. Prior to being suspended,
shares in the French supermarket had fallen 6.4%.
Rallye wasn't immediately available for comment. A spokesman for
Casino said the company would communicate later.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
May 23, 2019 06:04 ET (10:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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