The mark of interest registered by the trio Niel, Pigasse, Zouari competes with the Czech billionaire Daniel Kretinsky, who wants to take control of the group.
By PM with AFP
© BERTRAND GUAY / AFP
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Ihe trio of businessmen Xavier Niel (Free), Matthieu Pigasse and Moez-Alexandre Zouari (Fnac-Darty) presented an offer of one billion euros to raise the capital of the distributor in difficulty Casino, learned the Agence France-Presse on Tuesday from sources familiar with the matter, which confirm information from the media Challenges.
In this investment, 300 million euros will be invested directly by the “3F” investment vehicle of the three businessmen and founders of Teract, details Challengesthe accuracy of which was confirmed to AFP by a source familiar with the matter.
READ ALSOCasino: Jean-Charles Naouri, the shadow of a debtThe rest will come “probably from other investors, shareholders and creditors of Casino”. Contacted by AFP, the Casino group declined to comment. On June 8, the three founders of the Teract distribution group had already indicated that they were working “to bring out a lasting industrial and financial solution for the Casino group”.
The trio in competition with Daniel Kretinsky
In a press release, they then explained that they wanted ” a strengthening of the Casino group’s equity and, to the extent necessary, an adaptation of the existing debt to the group’s capacities and the preservation of its growth potential ». 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.
This amicable procedure, which leaves the management of the group in charge – unlike a situation of receivership, for example – should make it possible to conclude an agreement with the creditors with a view to restructuring the debt.
The mark of interest filed by the Niel, Pigasse and Zouari trio competes with Czech billionaire Daniel Kretinsky, who intends to take control of Casino and who had offered certain creditors to draw a line under part of the debt in exchange for either cash, either stocks or both. And this, up to approximately 40% of receivables. Contacted by AFP, Mr. Kretinsky’s spokesman declined to comment.