The two groups bidding for the supermarket chain controlled by the French organization Casino –3F, made up of banker Matthieu Pigasse, telecommunications billionaire Xavier Niel and retail businessman Moez-Alexandre Zouari, and a rival made up of the Czech investor Daniel Kretinsky and Fimalac de Marc Ladreit de Lacharriere- have until tomorrow, Friday, to improve their bets on said organization that is looking for a way out to reduce its high indebtedness through the sale of some assets.
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As recalled, said group of businessmen presented their business plans on Tuesday to a French government committee that oversees business restructuring. Now they have until this Friday to present an improvement to the financial proposals that would alleviate the high financial burden of Casino, according to information from sources consulted by Bloomberg, who asked not to be identified because the matter is confidential.
The same agency said representatives for Casino and 3F declined to comment, while Kretinsky’s spokesperson did not respond to a request for comment on that particular situation.
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Both offers and those of others that have not been disclosed so far would be the lifeline that would prevent collapse of the Casino harassed by the millionaire debts that it brings from time ago.
In fact, the company seeks to reduce lending through asset sales in 2018, but its focus on areas heavily dependent on tourism backfired during the pandemic and a strategy to increase prices further that its competitors have added to the organization’s problems, points out the Bloomberg note.
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Xavier Niel, Moez-Alexandre Zouari and Matthieu Pigasse, a group of millionaire businessmen interested in the rescue or acquisition from the French Casino.
Photo:
AFP
