Paris, December 27, 2016, 08:30 CET – Casino, Guichard-Perrachon S.A. (“Casino”) today announced that it has commenced an offer to acquire for cash all outstanding ordinary shares of Cnova, nominal value €0.05 per share (“Cnova ordinary shares”), in the United States (the “U.S. Offer”). Pursuant to the U.S. Offer, Casino is offering to acquire all outstanding Cnova ordinary shares held by holders of Cnova ordinary shares resident in the United States (“U.S. holders”) for $5.50 per share, net to the holder in cash, without interest, less any applicable withholding taxes (the “U.S. Offer Price”).