Heavily indebted French supermarket chain Casino has received two offers of a cash injection from groups led by prominent billionaires.
The competing proposals are part of Casino’s voluntary negotiation with creditors to restructure its debt and bring in new money in a bid to save the group now controlled by businessman Jean-Charles Naouri.
The proposal led by Czech billionaire Daniel Křetínský and joined by French entrepreneur Marc Ladreit de Lacharrière included €1.35bn in cash, which together with debt converted into equity would deliver a total injection of €1.8bn, according to a person familiar with the matter. The group had previously offered €1.1bn.
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