French grocer Casino Guichard Perrachon SA is beginning court-supervised talks with its creditors, a process that could clear the way for the debt-laden company to land an equity investment from Czech investor Daniel Kretinsky.
The so-called conciliation process will last up to five months, the company said in a statement Friday. Casino shares, which had been suspended since before the market opened Tuesday, dropped 8.2% to €6.205 at 11:02 a.m. in Paris. Notes due in March 2024 are now indicated at 21 cents on the euro, after starting the week at 27, according to CBBT pricing compiled by Bloomberg. ...
