The investors, who hold some Casino bonds maturing in 2026 and 2027, are seeking to move quickly before details of the tie-up are agreed, the sources added.
The group includes around a dozen firms consisting of investors and hedge funds, one source familiar with the group said.
Investors in loans to Casino are also in the process of mobilizing and lining up their own advisers, two of the sources and an additional source said, declining to be identified as the discussions are private.
Casino declined to comment.
The moves by bondholders and loan investors signal the potential for a drawn out tussle between creditors amid uncertainty over Casino’s long-term financial health.
Led by Jean-Charles Naouri, Casino, which has around 3 billion euros ($3.3 billion) of debt maturing between 2024 and 2025, said in March it was in exclusive talks to combine its French retail business with Teract, a company backed by billionaire…
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