25 April 2023

Křetínský and Slovak business partner Tkáč strengthen their presence in France

Czech billionaire Daniel Křetínský and his business partner Patrik Tkáč have agreed to take over the renowned French publishing house Editis. In addition, they have made an offer to expand their ownership stake in the major French retail chain Casino.


Czech Media Invest (CMI), headed by billionaire Daniel Křetínský, has announced that it is buying the major French publishing house Editis, currently the second largest book publisher in France, from media conglomerate Vivendi. The purchase comes as Vivendi seeks European Union approval for its acquisition of another French media group, Lagardere, and addresses antitrust concerns by offering to sell Editis and celebrity magazine Gala. The transaction is expected to be completed in the coming months and is subject to regulatory approval.

Separately, Křetínský submitted a proposal for a €1.1 billion equity investment in the debt-laden French grocery retailer Casino, one of the 30 largest retail companies in the world. Křetínský's proposal involves buying out part of Casino's debt in exchange for an increase in his stake in the company, which would significantly dilute existing shareholder positions. Currently, Křetínský already owns 10.1% of Casino's shares and, according to internal Reuters sources, his stake would increase to more than 40%, allowing him to take control of the company.

Vesa Equity Investment joined Casino in September 2019, it also owns power plants in France, stakes in newspaper Le Monde, TV group TF1 and a majority stake in consumer electronics retailer Fnac Darty.

Křetínský is also a shareholder of several other companies operating on the European retail market. For example, he owns shares in the British company Sainsbury or the German company Metro. In addition, Vesa Equity Investment is the largest shareholder in the British and Dutch Post Office.