Casino Group: Store disposals to Groupement Les Mousquetaires and Auchan Retail France
Store disposals to Groupement
Les Mousquetaires and Auchan Retail France
Paris, 2 July 2024
Casino Group announces the sale of 66 stores1 following the agreements reached on 24 January 2024, with Groupement Les Mousquetaires and Auchan Retail France2.
This transaction is based on an enterprise value of the stores sold of 213 million euros.
It is reminded that Groupement Les Mousquetaires and Auchan Retail France have undertaken to:
- take over all the employment contracts of employees assigned to the transferred stores and service stations, in accordance with article L. 1224-1 of the French Labour Code, and ;
- maintain, for employees assigned to the stores, the provisions and benefits resulting from the Casino collective statutes for a minimum period of 15 months from the date of completion of the transfer3.
Groupement les Mousquetaires and Auchan Retail France have also undertaken to encourage group Casino employees to apply for available positions, or to offer them the chance to become store managers.
The Casino group would like to thank all employees for their commitment to serving the Group throughout their careers. They contributed to making the Casino brand loved and recognized by customers.
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Groupe Casino also announces that it has sold its controlling 51% stake in 5 hypermarkets to Groupement les Mousquetaires. Groupement les Mousquetaires already holds a 49% stake in these hypermarkets from 30 September 2023.
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This communication is for informational purposes only under the current applicable laws and regulations, and is neither an offer to sell nor a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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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
1 Groupement Les Mousquetaires: 35 supermarkets, 1 Spar; Auchan Retail France: 28 supermarkets, 2 drive-throughs
2 Agreements reached on 24 January 2024 with Groupement Les Mousquetaires and Auchan Retail France, and as well as on 8 February 2024 with Carrefour, to sell a combined total of 287 stores: 10 stores, for which the conditions precedent have not yet been lifted in time, will be sold on a deferred basis
3 Barring more favorable benefits applicable to transferred employees and/or negotiation of a substitution agreement under articles L. 2261-14 et seq. of the French Labor Code
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