Casino Group: Signature of unilateral purchase agreements to sell 2 Géant hypermarkets located in Montauban and Nevers to Gr...

February 28, 2019

Signature of unilateral purchase agreements to sell 2 Géant hypermarkets located in Montauban and Nevers to Groupement Les Mousquetaires

Casino Group announces the signature of unilateral purchase agreements with a view to the sale of 2 Géant hypermarkets located in the towns of Nevers (58) and Montauban (82) to Groupement Les Mousquetaires, for a total value of €23.4m for the real estate and business assets.

These stores, which are among the least performing in the network, generated a turnover of around €36m and a trading loss of around €3.5m in 2018.

The agreements signed provide for the continuation of these stores' employees' contracts, in accordance with legal rules. The disposal is expected to be completed in the first half of 2019, subject to prior consultation with the employee representative bodies, which were held on Wednesday 27 February, and the fulfilment of the usual conditions precedent.

CASINO GROUP

ANALYST AND INVESTOR CONTACTS:

Régine GAGGIOLI - rgaggioli@groupe-casino.fr - +33 (0)1 53 65 64 17
Or
+33 (0)1 53 65 24 17 - IR_Casino@groupe-casino.fr

PRESS CONTACTS:

Casino Group - Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05
Or
+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
- 33(0)1 53 70 74 84 -
Karine ALLOUIS - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr

Disclaimer

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. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, 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 exercise of their own judgement. All opinions expressed herein are subject to change without notice.

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Signing of promises for the sale of 2 Géant hypermarkets

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Casino via Globenewswire

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