Casino announces the acquisition of CBD Luxembourg Holding from GPA, bringing its stake in Cnova to 98.8%. The acquisition price has been set at 10 million euros, of which 80% is to be paid by November 30, and 20% by June 30, 2024.

The agreement also provides for the payment by Casino, under certain conditions, of an earn-out, if a transaction involving its stake in Cnova were to take place within the next 18 months, at a higher valuation than that resulting from the transaction.

This transaction is part of the retail group's financial restructuring: in particular, it simplifies Cnova's ownership structure and separates CGP's interests in GPA and Cnova.

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