2023-07-28 16:50:37
By Marie Bartnik
Posted 3 hours ago, Just Updated
Casino’s difficulties have intensified in recent months. STEPHANE MAHE / REUTERS
DECRYPTION – The distributor reached an agreement on Thursday evening on the restructuring of its debt and its recapitalization. For ten days, the CEO has done everything to obtain maximum guarantees from Daniel Kretinsky, Marc Ladreit de Lacharrière and the Attestor fund.
«Casino is a remarkable group whose excellence
operational and the spirit of innovation are unparalleled. The time has come to resume conquest and growth.Daniel Kretinsky seems enthusiastic about the prospect of taking control of the Saint-Etienne distributor. A new future is indeed taking shape for Casino, soon relieved of a large part of its debt and passed under the control of new owners. The group reached an agreement on Thursday evening with a consortium made up of Czech billionaire Daniel Kretinsky, Marc Ladreit de Lacharrière of the British investment fund Attestor, one of the group’s main creditors.
The remedies are commensurate with the distributor’s difficulties: the consortium undertakes to provide 925 million euros in fresh money, to which will be added 275 million euros invested by other creditors of the group, who have rallied to its offer. . 4.9 billion euros of debt will also be erased, in return for around 30% of the…
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