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Casino CEO might reach out to PE funds, Amazon to help troubled French retailer

Casino Guichard-Perrachon SA CEO Jean-Charles Naouri is likely to seek help from private equity funds or Amazon.com Inc. to raise capital for the troubled French retailer, Bloomberg News reported, citing Bryan Garnier & Co. analyst Clement Genelot.

Naouri may be looking for a financial or industrial partner to help partially repay the company's debt and to allow him to keep majority control of the business, Genelot wrote in a note.

Casino's network of parent companies controlled by Naouri secured protection from creditors May 23, including investment vehicle Rallye SA, the report noted.

Amazon or Alibaba Group Holding Ltd. are the likely bidders with the financial capacity to acquire Rallye's entire stake, although the bid price would have to hit €60 per share to at least offset the debt owed by Rallye and its holdings, the analyst wrote, according to Bloomberg.