Casino Guichard-Perrachon SA unveiled offers from rival billionaires seeking to win support of the French grocer and its creditors in a battle for control of the firm.

Under the proposal made by Czech financier Daniel Kretinsky and Marc Ladreit de Lacharrière’s Fimalac — both of which are existing shareholders — the company would get a €1.35 billion ($1.47 billion) equity injection, the company said in a statement on Tuesday.

Casino also outlined the details of a rival bid made by a group known as 3F, led by three French businessmen: telecommunications billionaire Xavier Niel, banker Matthieu Pigasse and retail entrepreneur Moez-Alexandre Zouari. With the help of secured creditors, their offer to is to inject €900 million of fresh money into the business, according to the statement, although the equity injection is just €450 million.

Author: Irene García Pérez