Groupe Casino, Groupement Les Mousquetaires and Auchan Retail announced today that they have entered into exclusive negotiations with a view to the sale by Groupe Casino of almost all of Groupe Casino's hypermarkets and supermarkets to Groupement Les Mousquetaires and Auchan Retail.

The proposed sale is based on a fixed enterprise value of 1.35 billion euros (excluding real estate).

The integrated store perimeter represents total sales for 2022 of around 3.6 billion euros excluding VAT (excluding petrol) for 313 stores. All employees of the transferred stores would be taken over by Groupement Les Mousquetaires and Auchan Retail.

This project remains subject to the conclusion of a binding agreement between the parties, which could take place before the end of the first quarter of 2024, and of which the market will be kept informed.

Casino shares, suspended today, will resume trading tomorrow morning at the opening.


Copyright (c) 2023 CercleFinance.com. All rights reserved.