Casino Group: Disposal of 121 stores to ITM, Auchan, Carrefour
Disposal of 121 stores to Groupement
Les Mousquetaires, Auchan Retail France and Carrefour
Paris, 30 April 2024
Following the agreements reached on 24 January 2024, with Auchan Retail France and Groupement Les Mousquetaires as well as on 8 February 2024, with Carrefour to sell a combined total of 287 stores, Casino Group announces today the sale of 121 stores1. The disposals of the remaining 166 stores will occur in two steps, on 31 May 2024 and 1 July 2024, respectively.
This transaction is based on an enterprise value of the stores sold of 698 million euros.
It is reminded that Groupement Les Mousquetaires, Auchan Retail France and Carrefour 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 transfer2.
Groupement les Mousquetaires, Auchan Retail France and Carrefour 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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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
Franck Pasquier - - Tel: + 33(0)6 73 62 57 99
1 Groupement Les Mousquetaires: 50 supermarkets, 15 hypermarkets, 1 drive; Auchan Retail France: 15 supermarkets, 17 hypermarkets; Carrefour: 13 supermarkets, 10 hypermarkets
2 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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