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Casino: buys of GPA's stake in Cnova

( - Casino has announced the acquisition of CBD Luxembourg Holding from GPA, bringing its stake in Cnova to 98.

The acquisition price has been set at E10m, 80% of which is to be paid by 30 November, and 20% by 30 June 2024 at the latest.

The agreement also provides for the payment, by Casino, subject to certain conditions, of an earn-out, if a transaction involving its stake in Cnova were to take place within the next 18 months, at a higher valuation than that resulting from the transaction.

This transaction is part of the the retail group's financial restructuring. In particular, it simplifies Cnova's ownership structure and separates CGP's stakes in GPA and Cnova.

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