CORRECTED - BRIEF-Casino conversion to lead to 3.2 mln euro cap reduction

(Corrects headline to millions of euros instead of billions)

PARIS, June 11 (Reuters) - French retailer Casino (CASP.PA) says: * to launch preferred stock conversions that will lead to a 3,188,848.95 euro capital reduction * compulsory conversion of the 14,589,469 preferred non-voting shares currently outstanding into 12,505,254 ordinary shares on the basis of six ordinary shares for seven preferred shares * the preferred shares will be converted into ordinary shares on 15 June 2009