French grocer Casino Guichard-Perrachon SA has struck a debt restructuring agreement after opposition from lenders holding about 90% of its €1.4 billion term loan. The new plan, which will rename the chain Plesio, converts a similar amount of the loan into equity as originally proposed, but now requires Daniel Kretinsky’s vehicle to repurchase the newly‑converted shares, giving creditors higher recovery value. The creditor group will withdraw its challenge, which had sought to terminate the earlier safeguard plan. The deal reflects a compromise in a broader trend of aggressive European restructurings facing creditor pushback, similar to recent disputes with Grupo Antolin‑Irausa bondholders. Casino aims to secure approval of the amended safeguard by mid‑February 2027 and complete the restructuring in March, leaving existing public shareholders with less than 0.1% of capital. The firm’s market cap stands at roughly €64.2 million.
Key terms: €1.4 billion term loan, Daniel Kretinsky, accelerated safeguard, €64.2 million market cap, mid‑February 2027.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing