Casino Moves Closer to Sealing Deal With Billionaire Kretinsky
- Grocer plans to request an accelerated safeguard procedure
- Unsecured bondholders have until Oct. 11 to sign the agreement
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Casino Guichard-Perrachon SA has entered into a lock-up agreement with a consortium of investors led by Daniel Kretinsky and a majority of its secured creditors to move forward with a restructuring plan.
The French grocer intends to request an accelerated safeguard procedure later this month that will facilitate approval of the plan with the support of some stakeholders while imposing it on those that dissent, it said in a filing on Thursday.