(Reuters) – Czech billionaire Daniel Kretinsky has pushed debt-strapped French retailer Casino’s management to sell its largest stores ahead of his planned bailout, the Financial Times reported on Wednesday, citing three people aware of the discussions.
Kretinsky had expressed concerns about the feasibility of keeping the stores to the company’s founder Jean-Charles Naouri months ago, FT said.
Casino did not immediately reply to Reuters’ request for comment.
French food retailers Intermarché, Système U, Auchan and Carrefour are among the bidders lining up to buy the stores, the report said, adding that Germany-based discount chains Lidl and Aldi are also planning separate offers.
Talks with Lidl and Intermarché are in the most advanced stage, whose parent company Groupement Les Mousquetaires already agreed to buy about 60 stores from Casino in May, the report added.
The French supermarket group on Monday said that it has received expressions of interest for its hypermarket and supermarket stores, declining to name the bidders or number of stores it intends to sell.
(Reporting by Shivani Tanna in Bengaluru; Editing by Sonia Cheema and Varun H K)
