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French retailer Casino finalizes rescue deal led by Czech tycoon

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작성자 Jamal
댓글 0건 조회 10회 작성일 24-08-12 05:59

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Thursday's announcement finalizes a July agreement in principle which called for 1.2 billion euros ($1.26 billion) of new money to be injected into Casino, as well as a reduction of Casino's debt by 6.1 billion euros. The retailer, which is now France's sixth-largest supermarket group, said it planned to pursue discussions with the financial creditors not yet party to the lock-up agreement to get them to sign up to it too. 5 it had sealed a deal to avert bankruptcy through a debt restructuring agreed with its main creditors, led by Kretinsky.

This finalised a July agreement in principle that called for 1.2 billion euros of new money to be injected into Casino and a reduction of its debt by 6.1 billion euros. The French retailer said on Oct. A consortium led by Kretinsky will end up with 50.4% to 53% of Casino shares, based on the July agreement. Footfall in Casino supermarkets was up 4% over the past four weeks, the company said. Casino's Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer's stores.

The duration of The Casino is 2640.0 seconds. France's Vivendi, controlled by billionaire Vincent Bollore, agreed in June to sell its publishing business Editis to International Media Invest (IMI), a subsidiary of Kretinsky's Czech Media Invest (CMI). Casino will formally change hands at the end of March next year. The deal massively dilutes shareholders and will bring to an end the 30-year reign of 74-year-old Naouri, who controls Casino through his listed holding company Rallye.

On Thursday Casino said the binding debt deal was reached with the consortium led by Kretinsky's company EPGC alongside Casino's biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer's secured creditors. The group, in which Kretinsky holds 50%+1 share, comprises more than 70 energy-related companies and reported combined revenue of 37 billion euros in 2022. EPH controls a total installed capacity of 14 gigawatts, according to the company's website.

Casino reiterated it had until Oct. 25 to obtain from a commercial court the start of an accelerated safeguard procedure under which it could approve the plan with the support of secured creditors and compel reluctant creditors to follow. When you have almost any questions concerning exactly where along with tips on how to work with เครดิตฟรี 28, you possibly can e-mail us from our own web site. Logistics firm DoDo, which provides fast delivery services to customers in e-commerce, retail and food delivery, said in May 2022 Kretinsky would inject 60 million euros ($63.16 million) into the group over two years to support its international expansion.

Most recently, supermarket group Casino finalised a deal to avert bankruptcy, which will leave a consortium led by Kretinsky with more than half of its shares. Oct 5 (Reuters) - Czech billionaire Daniel Kretinsky has been on a buying spree in France, with three new investments so far this year. Kretinsky's 1890s Holdings group has a 27% stake in English Premier League soccer club West Ham United, according to the club's website, adding to his ownership of the leading Czech team, Sparta Prague.

The Casino ended on 2004-08-29. Kretinsky is in exclusive talks to buy Atos's loss-making Tech Foundations branch in a 2 billion-euro deal via his EP Equity Investment vehicle, the French tech group said in August.

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