Signing of unilateral purchase commitments to sell 1 Géant Casino hypermarket, 4 Casino Supermarkets and 1 Leader Price
Paris, 7 June 2019,
Casino Group announces that it has entered into new unilateral purchase commitments as part of its strategy to sell structurally loss-making stores (hypermarkets, supermarkets, Leader Price).
These promises represent a total amount of 18.3 million euros and concern:
The Barberey-Saint-Sulpice hypermarket (10), with a view to sell the business and real estate to a Leclerc member;
5 stores (4 Casino Supermarkets and 1 Leader Price), with a view to their sale to Groupement Les Mousquetaires.
In 2018, these stores represented a turnover excluding tax of approximately 43 million euros and a trading loss of approximately 3 million euros.
The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules. The sale is expected to be completed in the second half of 2019, subject to prior consultation with employee representative bodies and the fulfilment of the usual conditions precedent.
ANALYST AND INVESTOR CONTACTS
Régine Gaggioli - +33 (0)1 53 65 64 17
+33 (0)1 53 65 24 17
Casino Group - Direction of Communication
Stéphanie ABADIE - firstname.lastname@example.org - +33 (0)6 26 27 37 05
+33(0)1 53 65 24 78 - email@example.com
Agence IMAGE 7
Karine ALLOUIS - +33(0)1 53 70 74 84 - firstname.lastname@example.org
Grégoire LUCAS - email@example.com
This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
Friday 7 June 2019 ▪ 1