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Freshfields advises a group of RCF lenders on the financial restructuring of Casino Group
Global law firm Freshfields Bruckhaus Deringer ('Freshfields') advises BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, Crédit Lyonnais, La Banque Postale, Natixis and Société Générale, as lenders under the EUR 2.051 billion RCF, in connection with the financial restructuring of Casino Group.
Freshfields is advising BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, Crédit Lyonnais, La Banque Postale, Natixis and Société Générale, as lenders under the EUR 2.051 billion RCF, in connection with the financial restructuring of Casino Group.
On 5 October 2023, Groupe Casino announced that it has entered into a lock-up agreement with its main creditors and an entity controlled by the acquiring consortium, comprising EP Equity Investment III S.à r.l., Fimalac and Attestor.
The lock-up agreement, signed under the aegis of the conciliators and the Comité Interministériel de Restructuration Industrielle, provides for an equity injection of EUR 1.2 billion and a reduction of the group's net debt of nearly EUR 6.1 billion.
The Freshfields team was led by Paris partners Laurent Mabilat and Marie Roche with Emma Gateaud, counsel, and included partner Guilhem Bremond and New York Partner Kyle Lakin, with Mathilde de Wiljes, senior associate, Philippe Huntziger, Gabrielle Chino, Paris associates and William Snowden, Sonam Cheema and Frederick Money, London associates, and Elodie Soler, jurist, for the restructuring and financing aspects; partner Hervé Pisani and Joaquim Traoré, associate, for the corporate aspects; and partner Vincent Daniel-Mayeur and counsel Thomas Métayer for the tax aspects.
