Casino Seals Deal With Kretinsky That Will End Naouri’s Era
07/28/2023 18:33
Casino Guichard Perrachon SA reached a restructuring deal with creditors that will see Chairman Jean-Charles Naouri’s holdings in the debt-laden French supermarket operator wiped out as he cedes control to investors led by Czech billionaire Daniel Kretinsky.
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Casino Guichard Perrachon SA reached a restructuring deal with creditors that will see Chairman Jean-Charles Naouri’s holdings in the debt-laden French supermarket operator wiped out as he cedes control to investors led by Czech billionaire Daniel Kretinsky.
The grocer’s board approved the agreement with Kretinsky, partner Fimalac and creditor Attestor Capital to recapitalize the business and cut debt, according to a statement Friday. Creditors holding more than two-thirds of the company’s term loan also have given their approval, it said.
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Casino Seals Deal With Kretinsky That Will End Naouri’s Era