Casino Group: Signing of unilateral purchase commitments concerning the sale of 2 Géant hypermarkets and 2 Leader Price stores
12 Avril 2019 - 8:01AM
Signing of
unilateral purchase commitments concerning the sale of 2 Géant
hypermarkets and 2 Leader Price stores
Paris, 12 April 2019,
The Casino Group announces that it
has signed new unilateral purchase commitments concerning 4
structurally loss-making stores.
These commitments represent a
total amount of 24 million euros and concern:
-
The Carcassonne Cité 2 hypermarket (11), with
intangible business assets and real estate to be sold to a Leclerc
member;
-
The hypermarket of Château d'Olonne (85), with
intangible business assets to be sold to an experienced
professional in the retail sector, whose project is to operate it
under Systeme U brand, and real estate to a private investor;
-
2 Leader Price stores to be sold to Lidl.
In 2018, these stores generated
sales excluding VAT of €42 million and a loss in trading profit of
-€1.5 million.
The agreements signed provide for
the continuation of the employment contracts of the stores' staff,
in accordance with the law.
These disposals are expected to be
completed in the third quarter of 2019, subject to prior
consultation with employee representative bodies, which were
informed on Thursday, April 11, and the fulfilment of the usual
conditions precedent.
ANALYST AND
INVESTOR CONTACTS
Régine Gaggioli - +33 (0)1 53 65 64
17
rgaggioli@groupe-casino.fr
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
Karine ALLOUIS - +33(0)1 53 70 74 84 -
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. 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.
Signing of unilateral purchase
commitments
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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