Groupe Casino operates Casino Supermarkets, Géant Casino and other retail brands in France and Latin America. Credit: Guilhem Vellut/ Flickr (Creative Commons).

Mass-market retailer Groupe Casino has confirmed that it has received a preliminary letter of intent (LOI) from a group of investors to help strengthen its capital position.

The LOI outlines a proposal from Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari to boost the equity of Groupe Casino Guichard Perrachon by up to €1.1bn ($1.19bn).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The investors will initially provide funds of €200m to €300m. The remaining amount is to be subscribed by partners associated with their project.

In a statement, Groupe Casino said that these partners may include current creditors who are interested in reinvesting in the capital of the company.

Groupe Casino said: “At this stage, this is not a firm offer but a preliminary expression of interest, which may not be successful. The group will study this expression of interest and keep the market informed in the event of any new material elements.”

In a separate development, Groupe Casino also received a confirmation letter from holding company Fimalac Group for potential participation of €150m in the capital increase proposal from EP Global Commerce.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

These developments come after the supermarket chain officially started court-backed negotiations with its creditors last month.

Groupe Casino is headed and controlled by Jean-Charles Naouri. It is one of the leading food retailers, with a network of more than 11,500 stores across France and Latin America.

The retailer had consolidated net debt of €6.4bn as of the end of fiscal year 2022, up from €5.9bn in 2021.

In the first quarter of fiscal 2023, the company generated €5.4bn in consolidated net sales, up 1.0% on a same-store basis compared to the same period a year ago.