The offer of Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari thus competes with the proposal of Daniel Kretinsky, already a 10% Casino shareholder.
Article written by
Posted
Reading time : 1 min.
:quality(50)/2023/06/13/6488d4df824cd_maxnewsfrfive181235.jpg)
An offer of one billion euros was presented by Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari to increase the capital of Casino, learned franceinfo from a source familiar with the matter, confirming information from Challenges. The three businessmen have submitted their written offer to the group’s management, which will inform the board of directors.
>> REPORT. In Saint-Etienne, birthplace of Casino, employees are worried about their future
Thursday, they announced that they wanted to redress the Casino group in financial difficulty. The founder of Free Xavier Niel, the investment banker Matthieu Pigasse and the distribution specialist Moez-Alexandre Zouari, had said they wanted “bringing out a lasting industrial and financial solution” for Casino, crushed by the weight of its debt.
The exact amount of the offer is one billion euros, including 300 million euros directly invested by the investment vehicle “3F” three businessmen and founders of Teract, a network of stores and brands including Gamm Vert, Jardiland and Boulangeries Louise. The remainder of the offering will come from money raised from other Casino investors, shareholders and creditors.
119 stores go under the Intermarché banner
In April, the retail group said it had received a proposal from Czech billionaire Daniel Kretinsky estimated at more than one billion euros. He proposed to bail out the Casino coffers via a capital increase. The offer of Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari thus competes with the proposal of Daniel Kretinsky, already a 10% Casino shareholder.
Casino is currently in conciliation proceedings for a period of four months in order to renegotiate its large debt of 6.4 billion euros for Casino and around 3 billion for its parent company Rallye. Monday, June 12, the Casino group detailed the list of stores that will be sold to Intermarché during an exceptional central committee. 119 stores will be transferred to the Intermarché brand, sales which will take place mainly in Occitanie, Nouvelle-Aquitaine, Paca, Auvergne-Rhône-Alpes and Bourgogne-Franche-Comté.