Casino Announces Deleverage Plan on the Back of a Rough Month; FVE Maintained; Shares Fairly Valued
On June 11 (afterhours trading), no-moat Casino announced a two-year EUR 1.5 billion asset-disposal plan including real estate property (50% in second-half 2018 and the rest in first-half 2019). Â However, a lack of details from what seems to be potentially a reaction to the sell-off of its stock and bonds makes it difficult to assess the potential valuation impact and opens up execution risk, in our view. Therefore, although we view the move as a likely net positive for the company, at least in ...Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
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