Attestor to Sell Stake in Casino’s Controlling Unit to Kretinsky

Distressed debt investor Attestor Limited agreed to reduce its holdings in French food retailer Casino Guichard Perrachon SA just eight months after the completion of a restructuring.

Attestor will sell 7.65% of the investment vehicle that controls Casino to its largest shareholder Daniel Kretinsky by June 30, the company said in a statement on Wednesday. After the disposal, Attestor will still have a 10.05% direct stake in the grocer, it said.

The London-based fund teamed up with the Czech billionaire and French businessman Marc Ladreit de Lacharriere to take control of the company when it was negotiating a restructuring ...