Trio of wealthy investors seek solution to debt-laden Casino's woes

Teract SA

08/06/2023 17:15

PARIS, June 8 (Reuters) - Three French investors,
including billionaire Xavier Niel, said on Thursday that they
were working to find "a lasting corporate industrial and
financial solution" for heavily-indebted retail group Casino
 CASP.PA .
    Niel, investment banker Matthieu Pigasse and entrepreneur
Moez-Alexandre Zouari said in a joint statement - that followed
news that tie-up talks between French retailer Teract  TRACT.PA 
and Casino's French retail business had ended - that they were
acting in their own name and working with Casino's stakeholders.
    The solution would include "measures to strengthen Casino
group's equity and, to the extent necessary, adapt its existing
debt to its current capacities and preserve its growth
potential," they said.
    "The solution is open to all players interested in
participating in the recovery of a long-established retailer,"
they added.

 (Reporting by Dominique Vidalon;
Editing by Mathieu Rosemain/Sudip Kar-Gupta)
 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters
Messaging: dominique.vidalon.reuters.com@reuters.net))