Kretinsky to install former Metro and Lactalis exec at Casino if offer succeeds - Les Echos

Metro AG

09/07/2023 21:28

PARIS, July 9 (Reuters) - Czech billionaire Daniel
Kretinsky and his partners are prepared to hire former Metro
 B4B.DE  and Lactalis executive Philippe Palazzi as the new boss
of French supermarket chain Casino  CASP.PA , should their
refinancing offer for the debt-laden company succeed, Les Echos
reported on Sunday.
    Kretinsky could not immediately be reached for comment
outside working hours. Palazzi did not immediately respond to a
message sent via LinkedIn.
    Casino's management and court-appointed mediators have set a
July 27 deadline to enter an agreement in principle on the terms
of the financial restructuring.
    Kretinsky's offer is valid until Monday. It faces a
rivalling offer led by telecoms maverick Xavier Niel, investment
banker Matthieu Pigasse and businessman Moez-Alexandre Zouari,
which Casino said had also been extended to the same day. 
    
    

 (Reporting by Tassilo Hummel; Editing by Lisa Shumaker)
 ((tassilo.hummel@thomsonreuters.com ; Twitter handle:
@tassilo_hummel;))