Casino: completes divestment to Aldi France
(CercleFinance.com) - French food retail group Casino has completed the sale of 545 Leader Price stores to ALDI France, along with 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros.
"After taking into account E34 million of net liabilities transferred with the stores, disposal proceeds reach E683 million of which (i) E648 million received today, and (ii) up to E35 million earn-out which will be paid in the event of compliance with certain operational indicators during a transition period," Casino said.
In addition, the Casino Group may sell additional Leader Price stores to ALDI in the near future for up to 11 million euros.
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