Casino Group enters into exclusive negotiations with Auchan Retail France and Rocca with a view to selling its Corsican subsidiary Codim 2
Casino Group enters into exclusive negotiations with Auchan Retail France and Rocca with a view to selling its Corsican subsidiary Codim 2
Paris, 14 June 2024
The Casino group announces that it has entered into exclusive negotiations with Auchan Retail France and Rocca with a view to selling its subsidiary Codim 2 which operates in Corsica 4 hypermarkets, 9 supermarkets, 3 cash & carries and 2 drive-throughs, having achieved a turnover excluding taxes of 332 million euros in 2023.
The Casino group intends to conduct these discussions in the best interests of Codim 2 and its employees, as well as its local partners.
All activities, employees and support functions would be taken over and operated under the Auchan banner.
The proposed sale will be submitted to the employee representative bodies involved and competent competition authorities.
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This press release has been prepared for information purposes only and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments. Similarly, it does not constitute, and should not be treated as, investment advice. It has no regard to the investment objectives, financial situation or particular needs of any Receiver. No representation or warranty, express or implied, is made as to the accuracy, completeness or reliability of the information contained herein. It should not be considered by recipients as a substitute for the exercise of their own judgment. All opinions expressed in this document are subject to change without notice.
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ANALYSTS AND INVESTORS CONTACTS
Christopher WELTON - - Tel: +33 (0)1 53 65 64 17
or
- Tel: +33 (0)1 53 65 24 17
PRESS CONTACTS
Groupe Casino Communications
Stéphanie ABADIE - – Tel: +33 (0)6 26 27 37 05
or
- Tel: + 33(0)1 53 65 24 78
Agence IMAGE 7
Karine Allouis - - Tel: +33 (0)6 11 59 23 26
Laurent Poinsot - - Tel: + 33(0)6 80 11 73 52
Franck Pasquier - - Tel: + 33(0)6 73 62 57 99
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