Casino Unveils Rival Bids From Billionaires for the French Grocer
- Niel-led group allows for bigger injection from creditors
- Kretinsky, Fimalac propose larger equity investment, debt cut
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Casino Guichard-Perrachon SA said it’s weighing a French-led plan to rescue the grocer against a rival offer championed by a Czech billionaire that proposes a bigger equity injection.
Casino outlined an offer made by a group known as 3F, led by three French businessmen: telecommunications billionaire Xavier Niel, banker Matthieu Pigasse and retail entrepreneur Moez-Alexandre Zouari. With the help of secured creditors, their offer would inject €900 million ($979 million) of fresh money into the business, although the equity portion is just €450 million, according to a statement on Tuesday.