White & Case advises EP Global Commerce on proposed recapitalisation and financial restructuring of Casino Group

Press Release
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Global law firm White & Case LLP has advised EP Global Commerce a.s., a company controlled by businessman Daniel Kretinsky, on the signing of an agreement in principle on July 27, 2023, with Casino Group and some of its creditors representing more than two-thirds of the Term Loan B, with a view to strengthening Casino Group's equity structure and restructuring its financial debt.

The agreement in principle was reached under the aegis of the conciliators and the Comité Interministériel de restructuration industrielle (CIRI), and alongside Fimalac and Attestor. It was approved by Casino's Board of Directors upon unanimous recommendation of the ad hoc committee, and should serve as the basis for the signing of a lock-up agreement in the coming weeks, with a view to converting the conciliation proceeding into an accelerated financial safeguard proceeding in October 2023, with effective completion of all restructuring operations in the course of the first quarter of 2024.

The White & Case team which advised on the transaction was led by partner Saam Golshani (Paris) and included partners Franck De Vita, Séverin Robillard, Denise Diallo, Jean Paszkudzki, Estelle Philippi, Alexandre Jaurett, Orion Berg (all Paris) and Monica Barton (London), counsel Hugues Racovski (Paris), and associates Antoine Rueda, Anne-Liz Salapian, Aliénor Huchot, Gaétan de la Raudière, Yasmine Sefraoui, Martin Poirier, Charlotte Wright, Yeram Kim, Tiphanie Levassort, Etienne Branthomme, Claire Sardet, Cécilia Grosjean (all Paris), Sophie Rezki, Mariam Sadqi, Vic Sohal (all London) and Timothy Sensenig (Washington, DC).

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