Can a Czech billionaire rescue Casino?
The debt-laden French retail chain looks poised to get a foreign owner
It is something of a revolution in the country which once deemed yogurt-making to be a strategic industry. For the first time in the history of the fifth republic one of France’s big retail chains will be in foreign hands. Daniel Kretinsky, a Czech tycoon who made his fortune investing in coal and natural gas, is on the verge of taking control of the Casino group, which includes a chain of hypermarkets, as well as Monoprix and Franprix, two other retail chains, and convenience stores.
This article appeared in the Business section of the print edition under the headline “The Casino gamble”
Business July 22nd 2023
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