Trio of French investors set up investment vehicle for Casino - source

Teract SA

08/06/2023 17:15

PARIS, June 8 (Reuters) - French investors Xavier Niel,
Moez-Alexandre Zouari and Matthieu Pigasse have set up a 300
million-euro investment vehicle aimed at participating in a
shares sale of debt-laden retail group Casino  CASP.PA , a
source familiar with the move said.
    The three businessmen aim to raise funds from Casino
creditors, including some hedge funds, to bring the investment
vehicle to a little more than 1 billion euros, the source said. 
    The setting up of the dedicated investment vehicle, dubbed
"3F" (founders, friends & family), comes after the announcement
of a rival proposal led by Czech billionaire Daniel Kretinsky,
who has offered to take control of Casino through a 1.1-billion
euro capital increase.
        
    
    

 (Reporting by Mathieu Rosemain, editing by Silvia Aloisi)
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