Casino Group: Casino Group has completed the sale of 3 hypermarkets, 4 Casino supermarkets and 1 Leader Price store and received 39 million euros
Casino Group has completed the sale of 3 hypermarkets, 4 Casino supermarkets and 1 Leader Price store and received 39 million euros
Paris, 2 July 2019,
Following the signature in January and February of purchase agreements with Leclerc members and Lidl, Casino Group announces that it has completed the sale transactions relating to:
- the hypermarkets of Cholet (49), Roubaix (59) and Rennes (35) to Leclerc members;
- 4 Casino supermarkets and 1 Leader Price store to Lidl.
On this occasion, Casino received 39 million euros.
The amount received from loss-making store disposals to date amounted to 134 million euros, resulting in an improvement in trading profit of 24 million euros.
The other disposals are continuing according to plan, with Casino Group reminding that these hypermarket disposals are separate from the plan to sell non-strategic assets announced on 11 June 2018 and extended to €2.5 billion on 14 March 2019.
In parallel with these reductions in sources of losses, the Géant banner is continuing its transformation, in line with its strategic priorities, by focusing its development on digital synergies (deployment of the Casino Max application and Cdiscount corners) and by expanding its organic offer.
ANALYST AND INVESTOR CONTACTS
Régine Gaggioli – +33 (0)1 53 65 64 17
or
+33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE - - +33 (0)6 26 27 37 05
or
+33(0)1 53 65 24 78 -
Agence IMAGE 7
Karine ALLOUIS - +33(0)1 53 70 74 84 -
Grégoire LUCAS -
Disclaimer
This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
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