Casino Group: Signing of agreements to sell stores to Lidl and Leclerc
15 Février 2019 - 7:46AM
February 15,
2019
The Casino Group
and franchisees have signed agreements to sell certain Leader Price
and Casino supermarkets stores to Lidl and
1 Géant hypermarket of Roubaix to a Leclerc
member
The Casino Group announces the
signature of agreements to sell a selection of integrated stores
and master franchisees' stores for a total of €42 million, as part
of its ongoing strategy to divest structurally loss-making stores
(hypermarkets, supermarkets, Leader Price).
In the case of the integrated
stores, these commitments represent a value of €25 million in sale
proceeds and relate to the following:
· 17 stores
(8 Leader Price, 8 Casino supermarkets and 1 Hyper Casino) to be
sold to Lidl and,
· the sale of
the Geant hypermarket of Roubaix (59) to a Leclerc member with a
simultaneous sale of its real estate to the owner of the shopping
mall.
These 18 stores represented a
turnover of €88 million in 2018 for a trading loss of
-€12 million.
At the same time, master
franchisees of the Group, with which the Casino group has a 49%
stake, have signed an agreement to sell 16 stores (9 Leader Price
and 7 Casino supermarkets) to Lidl for a total of €17 million.
These 16 stores represented a
turnover of €60 million in 2018 for a trading loss of
-€9 million.
The agreements signed provide for
the continuation of these store's employees' contracts, in
accordance with legal rules.
The disposals are expected to be
completed in the first half of 2019, subject to prior consultation
with the employee representative bodies 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.
***
2019-02-15 - Signing of promises
for the sale of certain stores
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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