Plesio (Casino) reaches agreement with major shareholder Kretinsky

The French retail group Casino, now operating under the name Plesio, has reached an agreement with its largest shareholder on a debt restructuring. Czech billionaire Daniel Kretinsky is further strengthening his grip on the company.

Financial breathing room

About a year ago, negotiations began between Casino’s creditors and major shareholder Daniel Kretinsky to find a solution for a debt burden of as much as 1.4 billion euros that was due to be repaid by March 2027. At the time, Kretinsky proposed investing 300 million euros in exchange for the forgiveness or conversion into shares of 600 million euros in debt.