Sectors > Top Reports > Casino Memo 090623

Casino Memo 090623

Casino – Restructuring & M&A Analysis. Assessing Potential Upside Levers For EBITDA & Unleveraged FCF
PUBLISHED: 09 June 2023
PAGES: 132
SUBMARKET: Casino & Rallye, Top Reports, Top Reports,


Why Read?

  • Understand our various hypothetical restructuring, M&A and partnership scenarios to achieve a sustainable capital structure and turn around the Casino France Retail business
  • Understand recovery rates for Casino’s TLB, SSNs and SUNs under these scenarios
  • Understand base, bear and bull case financial projections, valuation and sensitivities for Casino France Retail

What’s New?

  • 6 hypothetical restructuring, M&A and partnership scenarios analysed – variously incorporating roles for EP Global, Teract  / InVivo (partnership rather than merger), Casino’s creditors, Intermarche and Carrefour
  • Potential upside levers for EBITDA and (unleveraged) FCF at Casino France Retail
  • Financial projections, valuations and sensitivities for Casino France Retail – base, bear and bull cases
  • Analysis of possible partnership with Teract / InVivo, and synergies therefrom, despite cessation of discussions regarding a merger of Casino’s France Retail business with Teract’s retail operations

Questions Answered

  • Which restructuring, M&A, partnership and turnaround solutions could help Casino France achieve a sustainable FCF trajectory?
  • Are there structural impediments to increasing Casino France Retail’s sales density?
  • What magnitude of synergies could be achieved through partnerships in bakery and fruit & vegetables with Teract / InVivo?

Connect with us