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March 11, 2019
The Casino Group has completed the sale of 26 hypermarkets and supermarkets properties valued at €501 million to funds managed by Fortress Investment Group, of which €392 million has already been received
Following the agreements signed with funds managed by Fortress Investment Group in January 2019, the Casino Group announces that it has completed the sale of 13 Géant Casino, 3 Hyper Casino and 10 Supermarkets Casino properties, valued at €501 million.
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In this context, Casino received €392 million, thus achieving the initial target of €1.5 billion in non-strategic asset disposals, set on 11 June 2018.
The Casino Group also remains associated to the value creation of this transaction through a stake in the company incorporated by funds managed by Fortress Investment Group. In this context and depending on the company's performance, the Casino Group could receive up to an additional €150 million in the next few years.
After the success of this first step, the Group will continue to explore measures to further reduce its debt.
It will also continue to improve the Group's profitability and strengthen its financial profile.
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CASINO GROUP
ANALYST AND INVESTOR CONTACTS:
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Régine GAGGIOLI - rgaggioli@groupe-casino.fr - +33 (0)1 53 65 64 17
Or
+33 (0)1 53 65 24 17 - IR_Casino@groupe-casino.fr
PRESS CONTACTS:
Casino Group - Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05
Or
+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr
Agence IMAGE 7
Karine ALLOUIS - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr
- 33(0)1 53 70 74 84 -
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. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, 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 exercise of their own judgement. All opinions expressed herein are subject to change without notice.
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