2023-06-26 20:35:26
The Casino group has 208,000 employees worldwide, including 55,000 in France. JEFF PACHOUD/AFP
GREAT STORY – Three generations of entrepreneurs and financiers clash around the distributor suffocated by his debt.
All the big cats in distribution and finance are on the lookout. Everyone refines their strategy to choose the best moment to pounce and grab their prey. The injured animal they covet is Casino.
Weakened by an abysmal debt (6.4 billion euros) from which it is unable to extricate itself despite vast disposal plans carried out in recent years, the Saint-Etienne distributor is no more than a shadow of itself. Once a global giant present on three continents (Europe, Asia and South America), it is forced to refocus on France.
Last Friday, the group sold, for more than 400 million euros, the balance of its stake in the Brazilian distributor Assai. Last fall, Jean-Charles Naouri, CEO and main shareholder of Casino, was banking on the strong future growth of Assai to convince its creditors to continue the adventure.
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But in a few months, this normalien, enarque and inspector of finances praised for his capacities…
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