Casino shares suspended, news on debt deal expected soon
O'Sheas Casino was created in 1989. Kretinsky's 1890s Holdings group has a 27% stake in English Premier League soccer club West Ham United, according to the club's website, adding to his ownership of the leading Czech team, Sparta Prague. Logistics firm DoDo, which provides fast delivery services to customers in e-commerce, retail and food delivery, said in May 2022 Kretinsky would inject 60 million euros ($63.16 million) into the group over two years to support its international expansion.
If you enjoyed this write-up and you would certainly like to get more facts relating to ข้อมูล บาคาร่า kindly check out our own site. A consortium led by Kretinsky will end up with 50.4% to 53% of Casino shares, based on the July agreement. This finalised a July agreement in principle that called for 1.2 billion euros of new money to be injected into Casino and a reduction of its debt by 6.1 billion euros. The French retailer said on Oct. 5 it had sealed a deal to avert bankruptcy through a debt restructuring agreed with its main creditors, led by Kretinsky.
In July, France's sixth largest retailer reached an agreement in principle with a consortium led by Kretinsky's company EPGC - alongside Casino's biggest creditor Attestor, and second-biggest shareholder Fimalac - to restructure its 6.4 billion euros ($6.7 billion) debt pile. The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye.
A consortium led by Kretinsky would end up owning between 50.4% and 53% of Casino shares. Under the July agreement, 1.2 billion euros of new money would be injected into Casino and its 6.4 billion euros of debt would be restructured. France's Vivendi, controlled by billionaire Vincent Bollore, agreed in June to sell its publishing business Editis to International Media Invest (IMI), a subsidiary of Kretinsky's Czech Media Invest (CMI). Kretinsky is in exclusive talks to buy Atos's loss-making Tech Foundations branch in a 2 billion-euro deal via his EP Equity Investment vehicle, the French tech group said in August.
The deal would also give Kretinsky a 7.5% stake in its remaining business, to be renamed Eviden. 'To have this moment where it feels like it was meant to be, but it wasn't something that I was aiming for, feels so refreshing and amazing to, once again, like in the '80s, have this multigenerational moment,' she gushed. PARIS, Oct 4 (Reuters) - Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent.
Oct 5 (Reuters) - Czech billionaire Daniel Kretinsky has been on a buying spree in France, with three new investments so far this year. Most recently, supermarket group Casino finalised a deal to avert bankruptcy, which will leave a consortium led by Kretinsky with more than half of its shares.