Cnova N.V.: Cdiscount's competitive position in France strengthened by the creation of a shared centralized purchasing platfo...
September 19 2016 - 1:45AM
CNOVA
N.V.
Cdiscount's competitive position in France strengthened by the
creation of a shared centralized purchasing platform by Casino and
Conforama
AMSTERDAM, September 19, 2016,
07:45 CEST - Cnova N.V. (NASDAQ and Euronext Paris: CNV; ISIN:
NL0010949392) ("Cnova" or the "Company") announces that Cdiscount's
competitive position in France should be strengthened by the
creation of a centralized purchasing platform, Mano, by Groupe
Casino and Groupe Conforama. Mano, designed to centralize purchases
of leading international brands of household appliances as well as
AV and IT equipment, should be operational in time for 2017
commercial negotiations.
Groupe Conforama and Cdiscount
will continue to independently operate their respective websites so
that each may maintain its own commercial policy.
***
Cnova Investor Relations Contact:
Cnova N.V.
Head of Investor Relations
+31 20 795 06 71
investor@cnova.com |
Media Contact:
Cnova N.V.
Head of Communications
+ 31 20 795 06 76
directiondelacommunication@cnovagroup.com |
***
About Cnova
N.V.
Cnova N.V., one of the world's largest e-Commerce
companies, serves 14 million active customers via state-of-the-art
e-tail websites: Cdiscount in France, Brazil and the Ivory Coast;
Extra.com.br, Pontofrio.com and Casasbahia.com.br in Brazil. Cnova
N.V.'s product offering of close to 37 million items provides its
clients with a wide variety of very competitively priced goods,
several fast and customer-convenient delivery options as well as
practical payment solutions. Cnova N.V. is part of Groupe Casino, a
global diversified retailer. Cnova N.V.'s news releases are
available at www.cnova.com. Information available on, or accessible
through, the sites referenced above is not part of this press
release.
This press
release contains regulated information (gereglementeerde
informatie) within the meaning of the Dutch Financial Supervision
Act (Wet op het financieel toezicht) which must be made publicly
available pursuant to Dutch and French law. This press release is
intended for information purposes only.
Forward-Looking
Statements
This press
release contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995, Section
27A of the U.S. Securities Act of 1933, as amended, and Section 21E
of the U.S. Securities Exchange Act of 1934, as amended. Such
forward-looking statements may generally be identified by words
like "anticipate," "assume," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "potential,"
"predict," "project," "future," "will," "seek" and similar terms or
phrases. Examples of forward-looking statements include, but
are not limited to, statements made herein regarding the
possibility, timing and other terms and conditions of the proposed
transaction described herein and the related offer by the Company's
controlling shareholder Casino, Guichard-Perrachon ("Casino") for
the outstanding shares of Cnova. The forward-looking
statements contained in this press release are based on
management's current expectations, which are subject to
uncertainty, risks and changes in circumstances that are difficult
to predict and many of which are outside of Cnova's control.
Important factors that could cause Cnova's actual results to differ
materially from those indicated in the forward-looking statements
include, among others: the ability to obtain required shareholder
approvals for closing of the Reorganization described herein; the
ability to complete the Reorganization and other transactions
discussed herein and the timing of completion of the Reorganization
and such other transactions; the effect of the announcement of the
Reorganization on the ability of the Company to retain and hire key
personnel, maintain relationships with its customers and suppliers,
and maintain its operating results and business generally; the
outcome of any legal proceedings that may be instituted against the
Company and others relating to the Reorganization Agreement, dated
as of August 8, 2016, between Cnova Brazil, Via Varejo and Cnova
(the "Reorganization Agreement"); the occurrence of any other
event, change or other circumstance that could give rise to the
termination of the Reorganization Agreement; changes in global,
national, regional or local economic, business, competitive, market
or regulatory conditions; and other factors discussed under the
heading "Risk Factors" in the U.S. Annual Report on the Form 20-F
for the year ended December 31, 2015 filed with the SEC on
July 22, 2016 and other documents filed with or furnished to the
SEC. Any forward-looking statements made in this press release
speak only as of the date hereof. Factors or events that could
cause Cnova's actual results to differ from the statements
contained herein may emerge from time to time, and it is not
possible for Cnova to predict all of them. Except as required by
law, Cnova undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise.
Cnova Mano ENG
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Cnova N.V. via Globenewswire
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