Shares in Ocado partner Casino suspended as debt mounts
Shares in Casino – the French grocery giant that has partnered with Ocado – and its parent company Rallye have been suspended as concerns mount over their debt piles.
The move sparked speculation that a debt restructuring plan could be imminent.
Casino’s total debt stood at €2.7bn at the end of 2018, while Rallye’s was €2.9bn.
Any deal to restructure those debt piles could raise questions over the future of Casino chair and chief executive Jean-Charles Naouri.
Casino struck a deal to license Ocado’s technology and logistics in November 2017.
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