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The new agreement also ensures the protection of Quatrim’s assets. This extension is anticipated to grant enough time for the property entity within the group to initiate a plan for asset sales, which would consequently enable Quatrim to lower its debt.
Casino has been wrestling with debt reduction efforts for some time, aiming to maintain its operations amidst financial difficulties. As of the end of June, the company’s net debt was noted at €6.1 billion, a slight decrease from €6.4 billion at the end of the previous year.
This recent agreement comes after another in-principle deal that Casino achieved in July with a consortium including EP Global Commerce, Fimalac, and Attestor along with other creditors, which consisted of French banks. These agreements underscore Casino’s continued efforts to negotiate with creditors and manage its debt effectively.
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