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White & Case Advises EP Group on Lock-up Agreement for Casino Group's Financial Restructuring

White & Case Advises EP Group on Lock-up Agreement for Casino Group's Financial Restructuring

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White & Case has advised EP Equity Investment III on a lock-up agreement relating to Casino Group's financial restructuring, alongside Fimalac and Attestor, with the Casino Group and some of its main creditors.

EP Equity Investment III is controlled by Czech businessman Daniel Kretinsky.

Established almost 125 years ago, the Casino Group is a food retailer with more than 11,500 stores across France and Latin America.

According to White & Case, “the signing of the lock-up agreement is a continuation of the agreement in principle reached on July 27, 2023, by the EP Group, Fimalac, and Attestor (the consortium) with the Casino Group and certain secured creditors. The financial restructuring provides for an equity injection of EUR 1.2 billion, comprising EUR 925 million subscribed by the consortium, as well as a reduction of the Casino Group's financial indebtedness by EUR 6.1 billion. Upon completion of the planned restructuring, the Consortium will control the Casino Group via a special purpose vehicle controlled by EP Equity Investment III.”

The White & Case team was led by Paris-based Partner Saam Golshani and included Paris-based Partners Franck De Vita, Denise Diallo, Jean Paszkudzki, Severin Robillard, Estelle Philippi, Alexandre Jaurett, and Orion Berg, London-based Partners Monica Barton and James Greene, and Brussels-based Partner Thomas Glauden as well as further lawyers in Paris, London, Luxembourg, Brussels, and Dubai.

White & Case did not respond to our inquiry on the matter.

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