Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Casino Guichard-Perrachon in Exclusive Negotiations to Sell Hypermarkets and Supermarkets


By Mauro Orru

Casino Guichard-Perrachon, the French supermarket owner, has entered into exclusive negotiations with Groupement Les Mousquetaires and Auchan Retail for the sale of the majority of its hypermarkets and supermarkets. The potential deal, which excludes real estate, is valued at 1.35 billion euros ($1.47 billion).

The talks focus on more than 300 stores, which generated sales of around EUR3.6 billion in 2022 (excluding value-added tax and petrol). However, hypermarkets and supermarkets in Corsica are not included in the negotiations.

At present, the transaction value does not include real estate; however, Casino has mentioned that certain real-estate assets could be included in the deal. The company intends to use the proceeds from the sale to support its financial restructuring plan.

Over the past few months, Casino has been grappling with mounting debt and declining market share in its domestic market. To ensure sufficient liquidity for its operations, the company engaged in discussions with creditors earlier this year.

In October, Casino reached a special agreement with a consortium led by Czech billionaire Daniel Kretinsky, banks, and other creditors. This agreement facilitated an equity injection and a debt reduction of EUR6.1 billion.

Trading of Casino shares will recommence on Tuesday.

Southwest Airlines Fined Record Amount for Flight Disruptions

Previous article

Lufthansa Orders $9 Billion Worth of Aircraft as Demand Surges

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News