Casino: completes disposal of real estate assets
(CercleFinance.com) - Following the synallagmatic agreements signed on 28 September and 17 October 2018, Casino has announced that it has completed the disposal of 53 and 14 Monoprix real estate assets to respectively GENERALI Group and AG2R LA MONDIALE.
After deducting registration fees, these transactions amount to 742 million euros, for a total annual rent of 35.4 million euros. They bring asset disposals to 1.1 billion euros, enabling the group to exceed its target for end-2018.
Casino estimates that continued sound operational performance and the gradual deployment of new profitability levers will enable it to improve its retail trading profit in France in 2019 at a similar pace to that of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
After deducting registration fees, these transactions amount to 742 million euros, for a total annual rent of 35.4 million euros. They bring asset disposals to 1.1 billion euros, enabling the group to exceed its target for end-2018.
Casino estimates that continued sound operational performance and the gradual deployment of new profitability levers will enable it to improve its retail trading profit in France in 2019 at a similar pace to that of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.