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Casino: sale of real estate portfolio to Icade

(CercleFinance.com) - Casino and Icade Promotion announce that they have signed a binding agreement for the sale of a real estate portfolio of 11 sites, for a sale price of 50 million euros, part of which will be managed by Casino Immobilier over a four-year period.


The portfolio consists of parking lots, undeveloped land, walls and ancillary lots adjoining stores, operated by third parties and offering potential for real estate transformation.

The property management agreements also include the possibility for Casino to acquire a stake in certain companies at a later date, which will be responsible for Icade's real estate development projects.

The transaction is scheduled to close in the first half of 2025. For Casino, it will enable it to reduce its financial debt, in particular vis-à-vis the bondholders of its subsidiary Quatrim, as part of its Renouveau 2028 strategy.

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