Casino has set next Monday, July 3, the deadline for receiving new capital injection offers, in the midst of the company’s debt restructuring process. The group aims to reach a preliminary agreement with creditors by July 27.
In a statement released this Wednesday, the 28th, the company said that the eventual contribution will have to be at least 900 million euros, so that the business plans for the 2023-2025 triennium are implemented in accordance with adequate liquidity conditions.
Highly indebted, the French retailer has been getting rid of important assets to try to raise capital. On Monday, the company announced that it intends to sell its South American subsidiaries, the Brazilian Grupo Pão de Açúcar and the Colombian Éxito. The company received two rival proposals for contributions of 1.1 billion euros each, one from shareholder Daniel Kretinsky and another from a group of businessmen.
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