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☆ Czech billionaire Kretinsky closes in on Casino after 3F abandons bid
▼ + stars: | 2023-07-16 | by ( ) www.reuters.com time to read: +2 min

Kretinsky has been vying to take control of Casino against the 3F Holding group, led by telecoms entrepreneur Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari. The group is saddled with net debt of 6.4 billion euros ($7.1 billion) and is teetering on the brink of default. "Today, after months of work, 3F has decided to not submit an offer," 3F said in a statement. Along with Marc Ladreit de Lacharrière’s Fimalac, he would inject 1.2 billion euros ($1.35 billion) in equity to take a 53% stake in France's sixth-largest retailer. The bidders would also convert 4.9 billion euros of debt into equity.

Persons: Daniel Kretinsky, Kretinsky, Xavier Niel, Matthieu Pigasse, Moez, Alexandre Zouari, 3F's, Marc Ladreit de, Fimalac, Casino, John Irish, David Holmes, Emelia Organizations: Casino, 3F, Attestor, Financial, Global Commerce, Financial Times, Thomson Locations: Czech, France's, Casino

☆ Cora strengthens Carrefour’s inflation defences
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters Breakingviews) - Carrefour’s (CARR.PA) 1 billion euros acquisition of smaller rival Cora could be seen as a consequence of the French group’s ability to navigate rocketing inflation. It will give the combined company a near 23% share of the fragmented and competitive French market, consolidating Carrefour’s leadership on its home turf. Five years ago, Carrefour and Casino had begun tentative talks for a possible merger that ultimately collapsed. If anything, Cora’s acquisition will make Carrefour a more attractive target. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cora, Daniel Kretinsky, Xavier Niel ., Pierre Briançon, Aimee Donnellan, Streisand Neto Organizations: Reuters, Carrefour, Casino, Twitter, Thomson Locations: French, France

☆ Kretinsky to install former Metro and Lactalis exec at Casino if offer succeeds, Les Echos reports
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

PARIS, July 9 (Reuters) - Czech billionaire Daniel Kretinsky and his partners are prepared to hire former Metro (B4B.DE) and Lactalis executive Philippe Palazzi as the new boss of French supermarket chain Casino (CASP.PA), should their refinancing offer for the debt-laden company succeed, Les Echos reported on Sunday. Kretinsky could not immediately be reached for comment outside working hours. Kretinsky's offer is valid until Monday. It faces a rivalling offer led by telecoms maverick Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari, which Casino said had also been extended to the same day. Reporting by Tassilo Hummel; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Kretinsky, Philippe Palazzi, Les Echos, Kretinsky, Palazzi, Xavier Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Tassilo Hummel, Lisa Shumaker Organizations: Metro, LinkedIn, Thomson Locations: Czech

☆ Casino extends creditors’ losing streak
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

Casino had previously hinted that it was seeking to restructure the unsecured portion of its debt, worth around 3.6 billion euros, implying that the remaining 4 billion euros of secured debt would remain intact. That implies borrowings of less than 2.7 billion euros, based on analysts’ forecasts compiled by Refinitiv. As a result, between 1 and 1.5 billion euros of the secured debt may also be converted into equity. Casino reckons it needs at least 900 million euros of new money to finance the company’s business plan in the next few years. The winner, who will be the group’s largest shareholder, will then determine whether they can end Casino’s losing streak.

Persons: Daniel Kretinsky, Xavier Niel, Pierre Briancon, crouch, Eli Lilly, Peter Thal Larsen, Streisand Neto Organizations: Reuters, Casino, Refinitiv, Twitter, Thomson Locations: Czech

The group will study this expression of interest and keep the market informed," Casino said in a statement on Wednesday. And the holding company through which Naouri controls Casino is also heavily indebted. Niel, Pigasse and Zouari said they would invest 200 million to 300 million euros themselves, with the rest coming from unspecified partners, including Casino creditors. The trio's proposal comes after Kretinsky, Casino's second-largest shareholder, offered in April to take control of the group through a 1.1 billion euro capital increase. A Casino spokesperson declined to comment beyond its statement on Wednesday or on behalf of Naouri.

Persons: Jean, Charles Naouri, Xavier Niel, Daniel Kretinsky, Casino, Kretinsky, Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Clement Genelot, Garnier, Pigasse, Zouari, Casino's, Mathieu Rosemain, Chiara Elisei, Laura Lenkiewicz, Sudip Kar, Silvia Aloisi, Mark Potter, Alexander Smith Organizations: Casino, Monoprix, BNP, Credit Agricole, Carrefour, Reuters, France's, Naouri, Thomson Locations: PARIS, Czech, Natixis, Casino

☆ EU antitrust regulators approve Vivendi, Lagardere deal
▼ + stars: | 2023-06-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 9 (Reuters) - Vivendi (VIV.PA), the French media conglomerate controlled by billionaire Vincent Bollore, on Friday won conditional EU antitrust approval for its acquisition of France's largest publisher Lagardere (LAGA.PA). Vivendi last year announced the deal which would give it control of Lagardere's flagship weekly publications Journal du Dimanche (JDD) and Paris Match. Vivendi said in a statement that it was confident it would finalise those two transactions by the end of October. "The remedies proposed by Vivendi will allow for the preservation of existing competition in those markets, to the benefit of consumers." Reuters reported in April that the remedies were sufficient to help Vivendi gain EU antitrust clearance for the acquisition.

Persons: Vincent Bollore, Margrethe Vestager, Daniel Kretinsky, Yannick Bollore, Foo Yun Chee, Bart Meijer, Sudip Kar, Gupta, Louise Organizations: Vivendi, Paris Match, European Commission, Reuters, Le Monde, TF1, Thomson Locations: BRUSSELS, EU, Czech, Le

☆ Exclusive: Vivendi set to win EU green light for Lagardere deal, sources say
▼ + stars: | 2023-04-19 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] The logo of French media giant Vivendi is seen in Paris, France, January 31, 2022. REUTERS/Violeta Santos MouraBRUSSELS, April 19 (Reuters) - French media conglomerate Vivendi (VIV.PA) is set to win EU antitrust approval to buy Lagardere (LAGA.PA) after its offer to sell Editis and celebrity magazine Gala managed to address competition concerns, people with direct knowledge of the matter said on Wednesday. The European Commission, which is scheduled to decide on the deal by June 14, declined to comment. Vivendi, controlled by billionaire Vincent Bollore, announced the deal last year which would give it control of Lagardere's flagship weekly publications Journal du Dimanche (JDD) and Paris Match. Vivendi is now in talks to sell its publishing division Editis to billionaire Daniel Kretinsky after EU competition enforcers voiced concerns about Lagardere unit Hachette, the world's third-biggest publishing group.

☆ Vivendi to sell celebrity magazine Gala to win EU approval for Lagardere bid -source
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 11 (Reuters) - French media giant Vivendi (VIV.PA) is set to commit to selling celebrity magazine Gala in a bid to win the European Commission's approval for the acquisition of Lagardere (LAGA.PA), a source close to the matter said on Tuesday. The commitment to the European Commission's antitrust services will be made on Wednesday, the source added. The pledged sale of Gala would be the latest remedy offered by Vivendi, controlled by billionaire Vincent Bollore, as it seeks to secure the takeover of Lagardere's flagship weekly publications Journal du Dimanche (JDD) and Paris Match. Last month Vivendi said it was in talks to sell its publishing division Editis to billionaire Daniel Kretinsky to allay EU antitrust worries, as Lagardere is home to Hachette, the world's third-biggest publishing group. Reporting by Kate Entringer; writing by Mathieu Rosemain; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Atos in talks with Kretinsky over sale of Tech Foundations business-Le Monde
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 1 (Reuters) - French technology consultancy Atos (ATOS.PA) is in talks with Czech businessman Daniel Kretinsky about the possible sale of its Tech Foundations business, Le Monde reported on Wednesday. According to our information, the management is also talking with Daniel Kretinsky ... who for his part is interested in the group's historic business of IT services Tech Foundations," the French newspaper said. Kretinsky holds a minority stake in Le Monde. Spokespeople for Kretinsky and Atos declined to comment. In October, Atos said it had been approached by several players interested in buying Tech Foundations, which groups activities the company defines as approaching maturity, such as data centres and business process outsourcing.

[1/5] An employee prepares online grocery orders in the storage area of Czech online grocer Rohlik Group in Prague, Czech Republic February 1, 2023. HUGE GROWTH POTENTIAL Rohlik, founded in 2014, leads the Czech market by mainly targeting customers in big cities through its string of distribution warehouses. "Competition is still mainly driven by stationary retail but a small number of online grocery players are gearing up in each market to become leading e-grocery platforms." KOSIK TURNS EASTAs Rohlik bets on Germany, Kosik is looking eastward, entering the Slovak market and expanding in Bulgaria. CEO Ivan Utesil said the company would also seek to cut into Czech market share by capitalising on its tie-in with German wholesaler Metro (B4B.DE) in some regional areas.

☆ Sainsbury’s latest bid chatter looks overblown
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 27 (Reuters Breakingviews) - Sainsbury’s (SBRY.L) is in the crosshairs of discount shoppers. Although the news drove Sainsbury’s shares up 5%, a bid looks unlikely. Its 530 million pounds of EBITDA in 2022 was less than a quarter of Sainsbury’s, implying any deal would be a stretch. And Bestway would have to win over the Qataris and Czech billionaire Daniel Kretinsky who together own nearly a quarter of Sainsbury’s. Before Friday’s share bump, Sainsbury’s traded at around 5.5 times its forward EBITDA compared to larger rival Tesco (TSCO.L) which trades on 6.5 times.

☆ Costcutter owner Bestway buys Sainsbury's stake
▼ + stars: | 2023-01-27 | by ( James Davey | ) www.reuters.com time to read: +4 min

Sainsbury's shares were up 4.5% on Friday, hitting their highest since April and leading gainers on the FTSE 100 (.FTSE) index. The 3.45% stake makes Bestway Sainsbury's sixth largest investor, Refinitiv Eikon data showed. Asda was purchased by brothers Mohsin and Zuber Issa and private equity company TDR Capital for an enterprise value of 6.8 billion pounds, while Morrisons was bought by U.S. private equity firm Clayton, Dubilier & Rice for 7 billion pounds. Sainsbury's proposed 7.3 billion pounds takeover of Asda was blocked by Britain's competition regulator in 2019. Shares in Sainsbury's closed on Thursday at 239.4 pence, valuing the business at 5.6 billion pounds.

☆ UK will not take action over Czech mogul's plan to raise Royal Mail stake
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Britain is no longer intervening in Czech billionaire Daniel Kretinsky's plan to increase his stake in Royal Mail parent International Distributions Services (IDSI.L), sending the company's shares up more than 7% on Monday. In August, Royal Mail said it had been notified by then business minister Kwasi Kwarteng that he was exercising powers to look into proposals by Kretinsky's vehicle, Vesa Equity Investment, under the National Security and Investment Act. The Royal Mail review came days after the government decided not to take action over billionaire Patrick Drahi's stake in telecoms firm BT (BT.L). Vesa, Royal Mail's biggest shareholder which is ultimately controlled by Kretinsky and his business partner Patrik Tkac, in August said it had voluntarily contacted the government to inform them of its intention to increase its stake in Royal Mail, which is currently just over 22%. "Vesa Equity Investment welcomes the decision ... and reiterate our commitment to continuing long term investment presence in the U.K., including our partnership with Royal Mail," a spokesperson said.

☆ Royal Mail's largest labour union rejects new conditional pay offer
▼ + stars: | 2022-10-31 | by ( Ajose Koilparambil | ) www.reuters.com time to read: +2 min

Royal Mail and the Communication Workers Union (CWU) last week agreed to engage in talks through arbitration to resolve the months-long pay dispute and on Sunday the CWU withdrew its planned strike action in Britain in the next two weeks. Royal Mail's latest offer includes a 7% salary increase over two years, plus a lump sum payment of 2% of pay this year, but was subject to CWU agreeing to several changes including to Sunday working, start times and flexible working. The CWU, which represents more than 115,000 postal workers at Royal Mail, rejected the offer and said it would vote to take further strike action. "It (the offer) includes more unacceptable changes and a derisory 7% two-year pay offer that is well below projected inflation for both years," the CWU said in a statement. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Courbit-led group offers 20 euros a share for M6 stake - Bloomberg News
▼ + stars: | 2022-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A view shows French television group M6 headquarters in Neuilly-sur-Seine, near Paris, France, May 21, 2021. REUTERS/Sarah Meyssonnier/File Photo(Reuters) - French media mogul Stephane Courbit and his investor partners are said to have offered 20 euros ($19) a share for Bertelsmann SE & Co.’s stake in television company Groupe M6, Bloomberg News reported on Sunday. The offer is a 39% premium to Friday’s closing price of 14.43 euros per share, and values the 48% stake around 1.22 billion euros. Czech billionaire Daniel Kretinsky also made an offer for the stake, the report said, citing a person familiar with the matter. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL’s stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at about 3 billion euros.

☆ Courbit-led group offers 20 euros a share for M6 stake, Bloomberg reports
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA view shows French television group M6 headquarters in Neuilly-sur-Seine, near Paris, France, May 21, 2021. The offer is a 39% premium to Friday's closing price of 14.43 euros per share, and values the 48% stake around 1.22 billion euros. Register now for FREE unlimited access to Reuters.com RegisterReuters could not immediately reach Courbit for comment. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL's stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at about 3 billion euros. ($1 = 1.0320 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

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