Attestor in €925 Million Joint Investment in Casino’s Restructuring

Cleary Gottlieb is representing Attestor, a London-based asset manager, in an investment in Casino Guichard-Perrachon (Casino) in the context of Casino’s financial restructuring.

On July 27, 2023, Attestor, along with EP Global Commerce a.s. and Fimalac (the consortium), agreed with Casino and a group of secured creditors of Casino, the main principles of Casino’s financial restructuring.

In accordance therewith, the consortium will invest an aggregate amount of €925 million by way of capital increase, and is expected to hold around 53% of Casino’s share capital (on a non-fully diluted basis). It is also expected that c. €3.5 billion of Casino’s financial debt will be equitized.

In addition, Attestor, along with certain other creditors of Casino, will backstop an additional new money capital increase of €275 million.

Casino is a major actor in the field of food retail in France and in Latin America.