(Corrects a dispatch of June 28, read well in §3e that Jean-Charles Naouri has no connection with Xavier Niel’s offer)
PARIS, June 28 (Reuters) – Casino announced on Wednesday that a deadline had been set for July 3 for the submission of offers to contribute equity to the capital of the group, as part of the process of restructuring its debt. .
In a press release, Casino also warned its shareholders that they would probably face a massive dilution of their investment following this procedure and that Rallye, Casino’s parent company, would lose control anyway.
Two competing offers, both proposing to inject 1.1 billion euros into Casino, have emerged in recent weeks with, on the one hand, the trio of businessmen made up of Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari , and on the other the Czech billionaire Daniel Kretinsky.
In its press release, Casino states that it has set the date of July 3 with the conciliators “with a view to finalizing an agreement in principle on the terms of the financial restructuring by July 27”.
The group specifies that it sent Wednesday to the conciliation stakeholders proposals on the conversion into capital of the group’s unsecured and secured debt.
“Casino’s vision of the debt-to-equity conversion amounts will be discussed with potential equity contributors as well as with the Group’s financial creditors, so that the final restructuring proposal may differ from this vision,” he said. he.
“Regardless of the final restructuring plan, Casino shareholders will be massively diluted and Rallye will lose control of Casino,” he adds. (Report Sudip Kar-Gupta, French version Jean-Stéphane Brosse)
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