Casino: agreement for sale of 26 stores
(CercleFinance.com) - Casino announces that it has signed an agreement with funds managed by Fortress for the sale of 26 hypermarket and supermarket properties worth 501 million euros, of which 392 million euros will be received upon completion of the transaction in the first half of 2019.
It will also take a stake in the company managed by Fortress to acquire the portfolio in order to value and divest it. For this, Casino may receive up to an extra 150 million euros in the next few years.
With the completion of this transaction, which brings the sale of assets to 1.5 billion euros, the food retail group says that it has reached its initial target in terms of the sale of non-core assets, as set on 11 June 2018.
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