PARIS, June 26 Reuters Cashstrapped French supermarket retailer Casino on Monday said it aims to conclude a debt restructuring agreement with its creditors by the end of next month, telling creditors it needed an equity contribution of at least 900 million euros 981.63 million.

Casino and the holders of its 6.4 billion euros 7 billion of debt kicked off formal talks earlier this month as the group races to stay afloat through divestments and an agreement to defer taxes and social charges with the government.

The firm39;s consultancy Accuracy does not anticipate any liquidity issue until late October, when the legal conciliation period with creditors ends, Casino said, adding that a recently announced sale of an equity stake in Brazil39;s Assai would likely raises net proceeds after costs and taxes of 326 million euros.

Casino added that, assuming the continuation of the standstill of financial charges and debt repayments after the conciliation period and taking into account the sale of some supermarkets to the company Les Mousquetaires, there would not be any liquidity issues until the end of the 2023 financial year.

Casino shares fell 2.2 in early session trading.

Creditors who have not already done so have been invited to organise themselves to facilitate further discussions with the Group, Casino said.

Casino currently faces two rivalling 1.1 billion euro bid proposals to boost its equity base, with one from its main shareholder JeanCharles Naouri teaming up…