Obbligazioni CASINO GUICHARD PERRACHON S.A.

[Fabrib]

A trio of French businessmen led by telecommunications billionaire Xavier Niel pulled out of the race for Casino Guichard Perrachon SA, paving the way for Czech investor Daniel Kretinsky to take control of the troubled French grocer
The 3F group, also including banker Matthieu Pigasse and retail entrepreneur Moez-Alexandre Zouari, has been competing against a consortium composed of Kretinsky and Marc Ladreit de Lacharrière’s Fimalac with offers to restructure the company’s debt and inject fresh equity. The company had asked them to submit revised bids this weekend to select a winner by the end of July.
“Today, after months of work, the 3F has decided not to submit its offer,” the group said in the statement. The financial situation is worse than foreseen and 3F has not received the information it required to the company.
It also said hedge fund Attestor Capital, the main secured creditor that had supported their first bid, joined the rival camp.
Funds including Davidson Kempner Capital Management, Farallon Capital Management, Monarch Alternative Capital and Sculptor Capital Management are now backing the Kretinsky offer, one person familiar with the matter said, asking not to be named because they aren’t authorized to talk about it.

 

[angy2008]

oggi qualche banca ha accreditato cedola della 2026, aspettiamo storno?
non vedo quotazioni per l'azione e nemmeno notizia di sospensione

 

[pietro17elettra]

UPDATE 4-Czech billionaire Kretinsky closes in on Casino as rivals drop bid
Oggi 12:29 - RSF

*
3F Holding pulls out of race citing 'biased process'


*
Kretinsky's revised offer includes 1.2 bln equity injection


*
Rescue deal aims to save Casino from bankruptcy



(Adds CIRI meeting in 6th par; combined stake detail in 8th par)
By John Irish and Mathieu Rosemain
PARIS, July 17 (Reuters) - Czech billionaire Daniel Kretinsky stepped closer to taking over debt-laden French retailer Casino (CO.EQ) on Monday after rival bidders pulled out of the race.

The move would bring an end to the 30-year reign of veteran entrepreneur Jean-Charles Naouri as France's traditional retail sector adapts to the rise of e-commerce and hard-discount supermarket chains.

Naouri, 74, controls Casino via his listed holding Rallye (RAL.EQ).


Kretinsky has been vying to take control of Casino against the 3F Holding group, led by telecoms entrepreneur Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari.

3F said late on Sunday it was dropping its bid, citing a "biased process" and a lack of information, and after one of its backers - the Attestor Capital fund - switched sides to support Kretinsky's bid.

It leaves Kretinsky, who submitted a revised offer over the weekend proposing a 1.2 billion euro ($1.35 billion) equity injection in Casino, as the only bidder.

Casino, which is saddled with net debt of 6.4 billion euros and is teetering on the brink of default, was due to release a statement on Wednesday after its board examined Kretinsky's bid.

Casino's creditors and management will attend a meeting hosted by CIRI - the finance ministry body that helps distressed companies and their creditors draw up restructuring plans - on Monday, two sources close to the matter said.

The group's shares were suspended on Monday.

In a statement on Sunday, 3F said it had decided to pull out as it "refuses to participate in a biased process - the company having obviously already chosen its buyer".

Casino and France's finance ministry declined to comment.

Along with Marc Ladreit de Lacharrière's Fimalac, Kretinsky's offer would give him and Attestor a combined 50.3% stake in France's sixth-largest retailer, two sources close to the matter said.

Kretinsky and Ladreit de Lacharriere would control the investment vehicle behind the 1.2 billion-euro equity injection, one of the sources said.

The bidders would also convert almost 5 billion euros of debt into equity, including 1.3 billion euros worth of secured debt.

Kretinsky and his EP Global Commerce investment vehicle could not immediately be reached for comment.

Kretinsky, 47, a former investment bank lawyer who built one of Europe's largest energy groups, has been scooping up assets into retail, media and other areas after the energy crisis boosted profits at his power, gas and coal businesses.

He has gone on a buying spree in Britain, France and Germany, buying stakes in French national newspaper Le Monde, retailer Fnac-Darty, British supermarket chain Sainsbury's and German grocer Metro.

His net worth stands at $9.4 billion, according to Forbes.

Casino, which as been burning through cash as revenue fell and it lost market share to rivals, has been in a debt restructuring negotiation with creditors aimed at saving the company from bankruptcy. The deadline for an overall debt restructuring deal has been set for July 27.

The French government is concerned about possible job cuts at Casino, which employed 50,000 people in the country at the end of last year.

"Our desire is to make the greatest effort possible to preserve the maximum possible, rational perimeter of Casino," Kretinsky told the Financial Times on Sunday.

($1 = 0.8892 euros)


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(Writing by John Irish and Silvia Aloisi; Editing by David Holmes, Emelia Sithole-Matarise and Mike Harrison)
(([email protected]; 0033-1 49 49 53 42; Reuters Messaging: @IrishJReuters))

 

[pietro17elettra]

FACTBOX-Czech billionaire Kretinsky's sprawling empire
Oggi 14:00 - RSF
(Adds Casino in retail section, updates throughout)
July 17 (Reuters) - Czech billionaire Daniel Kretinsky stepped closer to taking over debt-laden French retailer Casino (CO.EQ) on Monday after rival bidders dropped out of the race.

Kretinsky, 47, a former investment bank lawyer who built one of Europe's largest energy groups, Energeticky a Prumyslovy Holding (EPH), has been diversifying into retail, media and other areas for investments.

His net worth stands at $9.7 billion, according to Forbes.

Kretinsky's investment vehicle VESA Equity Investment has a portfolio valued at more than 3 billion euros ($3.37 billion), according to its website.

Here is a summary of some investments by firms controlled by Kretinsky and his long-term business partner, Patrik Tkac:

EPH
The group, in which Kretinsky holds 50%+1 share, comprises more than 70 energy-related companies and reported combined revenue of 37 billion euros in 2022. EPH controls a total installed capacity of 14 gigawatts (GW), according to the company's website.

It has controlling or large stakes in lignite, gas, renewable and nuclear power plants in the Czech Republic, United Kingdom, Slovakia, Italy and elsewhere.

The group also includes Slovak gas transit pipeline operator Eustream, gas storage firms, cargo and commodity trading businesses.

RETAIL * Casino (CO.EQ)
Kretinsky is now the only bidder for debt-laden retailer Casino, after rival 3F Holding Group pulled out of the race on July 16. In an interview with the Financial Times published on the same day, Kretinsky said he had submitted a revised offer.

Along with Marc Ladreit de Lacharriere’s Fimalac, he would inject 1.2 billion euros in equity to take a 53% stake in Casino, he said, adding that the bidders would also convert 4.9 billion euros of debt into equity.

* Fnac Darty (FNAC.EQ)
Kretinsky's investment vehicle VESA Equity Investment has also become the largest shareholder of French retailer Fnac Darty, crossing a 25% threshold in March, according to French markets regulator AMF.

* Foot Locker
Kretinsky's VESA owns 12.3% voting rights in the U.S.

sportswear and footwear retailer.

* Metro
Kretinsky holds 40.6% of German retail group Metro's voting rights, being the controlling shareholder of the group, according to Refinitiv data.

* Sainsbury's
VESA Equity Investment also built a 9.99% stake in the British supermarket group, Refinitiv data said.

MEDIA * Editis
France's Vivendi (VIV.EQ), 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).

CMI publishes four daily newspapers, a number of magazines, and has an extensive digital and radio presence in the Czech Republic.

* Elle, Marianne
The Czech investor owns via CMI several French titles such as Elle and news magazine Marianne, according to the CMI website.

* Le Monde
Kretinsky has held a minority stake in French newspaper Le Monde since 2018, Reuters reported.

* TF1
Kretinsky's Vesa holds 5% in French TV company TF1, according to Refinitiv data.

OTHER * Atos (ATO.EQ)
French newspaper Le Monde reported in March that French technology consultancy Atos was in talks with Kretinsky about the possible sale of its Tech Foundations business.

* DoDo
Logistics firm DoDo, which provides fast delivery services to customers in e-commerce, retail and food delivery, said in May 2022 that Kretinsky would inject 60 million euros ($63.16 million) into the group over two years to support its international expansion.

* PostNL (PNL.EQ)
Daniel Kretinsky has accumulated a 31.4% stake in the Dutch mail and packages delivery through his investment arm VESA Equity, a regulatory filing showed in November.

* International Distributions Services
Kretinsky's VESA is the biggest shareholder in International Distributions Services, the parent of Britain's Royal Mail, holding a 26.15% stake, according to Refinitiv data.

* West Ham
Daniel Kretinsky's 1890s Holdings group holds 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.


($1 = 0.8899 euros)

(Compiled by Laura Lenkiewicz, Diana Mandiá, Jan Lopatka and Jason Hovet; Editing by Tomasz Janowski, Milla Nissi and Jan Harvey)
(([email protected]; [email protected]))

 

[pietro17elettra]

Insomma sembra che i giochi siano fatti!
Vediamo come reagiranno gli obbligazionisti unsecured.

 

[fedro10]

Casino Guichard-Perrachon SA | Moody's appends limited default (LD) to Casino after payment default

 

[Fabrib]

CDS Panel rules "Failure to pay event" occured with Casino.
BBG

 

[Sniper76]

arrivata scelta da fare in merito alla ristrutturazione di Casino. Non ho ancora letto i dettagli ma vedo che il minimo x l'adesione è nom. 100k. Fortunatamente non è il mio caso......sfortunatamente invece detengo il perpetuo = ormai do tutto per perso
Mi domando invece cosa accada a chi ha un senior ma non raggiunge i 100k di nominale.......

 

[stefmas]

Arrivata oggi anche su Fineco

 

[Sniper76]

arrivata scelta da fare in merito alla ristrutturazione di Casino. Non ho ancora letto i dettagli ma vedo che il minimo x l'adesione è nom. 100k. Fortunatamente non è il mio caso......sfortunatamente invece detengo il perpetuo = ormai do tutto per perso
Mi domando invece cosa accada a chi ha un senior ma non raggiunge i 100k di nominale.......

Mi rispondo da solo.....a parte il perpetuo ancora di vecchio taglio 1k, tutti gli altri bond di Casino hanno taglio 100k. Quindi gli altri se vogliono aderiscono