Retailer details rival plans from Niel and Kretinsky groups
Czech investor’s plan would offer a larger equity injection
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Casino Guichard-Perrachon SA’s shares plunged as investors size up competing offers to rescue the troubled French grocer from groups headed by two billionaires, each of which would leave existing holders with almost nothing.
The retailer late Tuesday published details of the two bids, which are led by French telecommunications entrepreneur Xavier Niel and Czech financier Daniel Kretinsky. Despite its debt woes, the company holds appeal for potential investors because of its Monoprix and Franprix stores’ prime locations in Paris and other French cities. Shares fell as much as 42% in Paris on Wednesday.