- Jean-Charles Naouri is pursuing a deal to merge Casino's French food retailers with Teract to save his indebted supermarket group.
- The deal would offer a financial lifeline and allow Naouri to save face since it is not an outright sale.
- The combined retail businesses would be placed in one entity, with Naouri as CEO and Casino owning 60% to Teract's 40%.
- The idea is to create a vertically integrated retailer to appeal to consumers who are willing to pay a premium for sustainable, locally sourced food.
- The deal may rejuvenate Casino and help Naouri convince restructuring proceedings to give him more time to pay creditors.
Casino boss spins wheel yet again in race to save supermarket empire
Jean-Charles Naouri pursues deal with former franchisee as he races to salvage group
Leila Abboud
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