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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. 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.

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. 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.

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 2016 takeover of Vattenfall's German mines and 8,000 megawatt coal power plants is one example, where Kretinsky received 1.7 billion euros ($1.8 billion) in cash to buy the assets and the Swedish group booked a large loss on the deal.

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. 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. 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.

Thursday's announcement finalises a July agreement in principle which called for 1.2 billion euros ($1. If you have any sort of questions pertaining to where and how you can use แทงบอล วิธี, you could call us at our own page. 26 billion) of new money to be injected into Casino, as well as a reduction of Casino's debt by 6.1 billion euros. 25 to obtain from a commercial court the start of an accelerated safeguard procedure under which it could approve the plan with the support of secured creditors and compel reluctant creditors to follow. Casino reiterated it had until Oct. Footfall in Casino supermarkets was up 4% over the past four weeks, the company said.

Casino's Chief Financial Officer David Lubek said price cuts were bringing more customers into the retailer's stores. "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. The deal massively dilutes shareholders and will bring to an end the 30-year reign of 74-year-old Naouri, who controls Casino through his listed holding company Rallye.

Casino will formally change hands at the end of March next year. He is also facing political headwinds in his quest to buy Atos' legacy operations in France and failed to win the auction for German utility Steag earlier this year, sources with knowledge with the situation said.