Casino reaches binding agreement to restructure its debt

2023-10-05 08:42:10

The distributor in financial difficulties Casino has, as expected, concluded a binding agreement for the restructuring of its debt with its main creditors, in continuation of the agreement in principle reached at the end of July, it announced Thursday, October 5 in the morning .

Casino, 200,000 employees worldwide including 50,000 in France, was strangled by a debt of 6.4 billion euros at the end of 2022 but its restructuring is made possible by a takeover offer from Czech billionaire Daniel Kretinsky, from Frenchman Marc Ladreit de Lacharrière and the British fund Attestor. The restructuring is expected in the first quarter of 2024.