Why Jean-Charles Naouri is finally forced to “break into pieces” Casino

Jean-Charles Naouri, CEO of Casino. Jean-Christophe MARMARA

NARRATIVE – At the end of July, the agreement reached with Daniel Kretinsky was supposed to save the group. Since then, losses have been piling up, and he has had to sell hundreds of hypermarkets and supermarkets, with a risk of social breakdown.

My honor is to transmit the group in its integrity. It is a moral promise made to Antoine Guichard who deserved to fight the hardest battle.» By confiding in a journalist from Pointthis morning of Sunday July 30, Jean-Charles Naouri, the CEO of Casino, which he took control of more than thirty years ago by joining forces with the grandson of its founder Geoffroy Guichard, seems relieved and satisfied with the job accomplished. Resigned to losing the absolute control he has had for decades over the Saint-Etienne distributor (Casino, Monoprix, Franprix, Naturalia, Vival, Cdiscount, etc.), the septuagenarian welcomes the agreement sealed the previous Thursday with the Czech billionaire Daniel Kretinsky, Marc Ladreit de Lacharrière and the British fund Attestor. At the end of the first quarter of 2024, this consortium must take control of Casino, after a capital increase where it will inject 1.2 billion euros, in exchange for the abandonment of 5 billion in debt by the…

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