Casino: sells walls of 55 Monoprix stores for E565m
(CercleFinance.com) - The group has announced signing a synallagmatic agreement for the disposal of a real estate assets with a leading institutional investor on the walls of 55 Monoprix real estate assets.
After subtracting the registration fee, the deal amounts to 565 million euros for an annual rent of 27 million euros.
Including the transfer of 15% of Mercialys via a TRS, the operations carried out under the debt reduction plan amount to 778 million euros. In addition, Casino group has also already received additional indicative offers on other assets included in its disposal plan, which could be completed by the end of the year.
"Casino Group confirms all of its 2018 objectives. Continued good operational performance and the progressive roll-out of new profitability levers (New Horizon purchasing alliance, further data monetization, accelerated external development of GreenYellow) will enable Casino Group to improve its retail trading profit in France in 2019 at a similar pace to 2018, including the effects of additional rents."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
After subtracting the registration fee, the deal amounts to 565 million euros for an annual rent of 27 million euros.
Including the transfer of 15% of Mercialys via a TRS, the operations carried out under the debt reduction plan amount to 778 million euros. In addition, Casino group has also already received additional indicative offers on other assets included in its disposal plan, which could be completed by the end of the year.
"Casino Group confirms all of its 2018 objectives. Continued good operational performance and the progressive roll-out of new profitability levers (New Horizon purchasing alliance, further data monetization, accelerated external development of GreenYellow) will enable Casino Group to improve its retail trading profit in France in 2019 at a similar pace to 2018, including the effects of additional rents."
Copyright (c) 2018 CercleFinance.com. All rights reserved.