PARIS, July 27 (Reuters) - French retailer Casino
and Credit Mutuel Alliance Federale on Tuesday said they have
agreed the sale of web and mobile payment solutions provider
FLOA to BNP Paribas for 258 million euros ($305.2
Casino has been selling assets to reduce its debt and that
of parent Rallye.
Proceeds will be divided equally between Casino and Credit
Mutuel, representing 129 million euros for each company, the
joint statement said.
BNP Paribas will also become the exclusive provider and
distributor of consumer credit solutions including split-payment
solutions for Casino group customers through a commercial
partnership to be set up with the Casino Supermarches, Geant and
The transaction is expected to be completed in the next few
quarters, subject to necessary approvals, including from the
French competition authority and European Central Bank (ECB).
($1 = 0.8452 euros)
(Reporting by Dominique Vidalon
Editing by David Goodman