Lidl Plans Takeover: German Retailer Eyes 600 Casino and Monoprix Stores

2023-07-18 20:48:17

The German group contacted the investment fund Attestor, associated with the duo of Casino buyers made up of Daniel Kretinsky and Marc Ladreit de Lacharrière.

The German retailer Lidl is interested in taking over nearly 600 Casino and Monoprix stores and approached the investment fund Attestor, one of the new key allies of the duo of buyers made up of Daniel Kretinsky and Marc Ladreit de Lacharrière, learned the AFP on Tuesday, confirming information from Le Monde.

The daily claims to have consulted a letter signed by Kenneth McGrath, the general manager of Lidl to David Alhadeff, one of the partners of Attestor in charge of the Casino file, in which he draws up a “target” list of 300 Casino supermarkets and 300 Monoprix.

Contacted by AFP, Lidl declined to comment on the information.

“Expressions of interest but no discussions”

Attestor confirmed with AFP “marks of interest” from Lidl but affirmed that “there are no discussions” at the moment, saying he was “committed to a long-term vision” with Daniel Kretinsky and Marc Ladreit de Lacharrière.

The Attestor fund has joined Lacharrière’s Kretinsky-Ladreit duo to form a consortium that filed a revised offer on Saturday, pushing the competitors it was initially discussing with, the Niel-Pigasse-Zouari trio united in a 3F company, to throw the sponge sunday.

It was in the context of 3F’s offer that Lidl’s letter was sent to Attestor, adds a close source.

The Casino group gave the green light on Monday to an improved offer for recapitalization and restructuring of its debt from the consortium led by Daniel Kretinsky.

“I am committed to hypermarkets as well as supermarkets and to preserving the maximum possible perimeter,” said the Czech billionaire in an interview with the newspaper on Sunday. The echoes.

At the end of May, when entering the conciliation procedure to enable it to negotiate the restructuring of its enormous debt with its creditors, Casino had also announced an agreement with Intermarché for the sale of more than a hundred Casino stores.

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