Report
Casino : Under pressure, € 1.5bn asset disposal plan to cut debt for France. Choice of a capex-light business model looks risky in the medium term, in our view
>New € 1.5bn net asset disposal plan for France - The fall in Casino’s share price (-20% over the past month to € 33) and that of parent company Rallye (-24% to € 10) linked to their penalising financial situation (€ 6.2bn in net debt restated for Casino at end-2017 and € 2.9bn for Rallye), has prompted the group to announce an asset disposal plan for France, for an estimated € 1.5bn over 2018 and 2019. Half of the plan will likely be executed in 2018 and the other ha...
Underlying
Gateway Casinos & Entertainment
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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