French retailer Casino finalises rescue deal led by Czech tycoon

A self-professed lover of France, Kretinsky is also in talks to become the biggest shareholder in French IT consulting firm Atos, developing a portfolio of assets in the country after a string of investments in Britain with soccer club West Ham, retailer Sainsbury’s, and Royal Mail. Silicon Casino happened in 1994. Casino Empire happened in 2002. ‘I’m sure it’s going to be down to the wire with plenty of drama,’ she said. Pictured with Michael Gruber (L) CCO of The Venetian Resort where Kylie’s residency will be located, and Derek McLane (R) who will design the extravaganza 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. 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. 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.

‘It’s based on a mix between a 1930s club and a 1970s kind of Frank Sinatra, Elvis venue where there were booths and lamps and cocktails. Later in the evening there will be me but prior to that it’s meant to be part of a bigger experience,’ she teased. “Casino has reached a major milestone in its financial restructuring process by obtaining the agreement of its main creditors on a financial restructuring plan,” CEO and controlling shareholder Jean-Charles Naouri said in a statement.

We’re creating a pretty punchy show for a small venue,’ she said. ‘I’m so excited about it. It’s my rite of passage having my Vegas residency. It’s in a really intimate venue, it’s capped at a thousand people. Naouri said the binding agreement “creates a favourable framework” for the long-term sustainability of Casino’s business, maintaining its workforce and head offices and continuing to develop its brands.

On Thursday Casino said the binding debt deal was reached with the consortium led by Kretinsky’s company EPGC alongside Casino’s biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer’s secured creditors. 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 singer provided a glimpse at what fans can anticipate at the Voltaire venue, mentioning her inspiration has been taken from the eras of Frank Sinatra and Elvis Presley during their Las Vegas performances. Thursday’s announcement finalises a July agreement in principle which called for 1.2 billion euros ($1.26 billion) of new money to be injected into Casino, as well as a reduction of Casino’s debt by 6.1 billion euros. The retailer, which is now France’s sixth-largest supermarket group, said it planned to pursue discussions with the financial creditors not yet party to the lock-up agreement to get them to sign up to it too.

Casino’s Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer’s stores Here’s more information on no deposit bonus online casino pa look into the web-site. .