Casino CASP.PA is preparing to sell more supermarkets to Intermarché (Les Mousquetaires group), or even to sell the balance of its supermarket and hypermarkets to the highest bidder, reports the daily Les Echos in its edition to be published on Monday, citing Carrefour CARR.PA as a potential candidate.
Heavily indebted, Casino signed a “lock-up” agreement in October with its main creditors, including Czech billionaire Daniel Kretinsky, which provides for an equity contribution as well as a reduction in the group’s net debt.
According to Les Echos, the Rallye subsidiary GENC.PA has received expressions of interest for its balance from 291 supermarkets (including 60 franchises) and 52 hypermarkets.
Candidates for takeover must have submitted their offers on Wednesday, specifies the newspaper.
The restructuring of the Saint-Etienne distributor, which provides for Rallye to lose control of the group, must take place by the end of the first quarter of 2024.
(Written by Claude Chendjou)