Casino Is Studying Strategic Options for Combination of Latin America Assets
09 Mai 2019 - 7:47AM
Dow Jones News
By Anthony Shevlin
Casino Guichard-Perrachon SA (CO.FR) said Thursday that it is
studying various strategic options for a combination of its Latin
American assets, but that it doesn't justify a market
disclosure.
The French retailer said that it "studies its various strategic
options in this region in the context of the permanent review of
its investments. These thoughts haven't led to any material element
that would justify a disclosure to the market."
The statement follows press articles mentioning an upcoming
announcement of a combination of its assets in the region, Casino
said.
Casino posted first-quarter sales in April of 8.85 billion euros
($9.91 billion), up 4.3% on an organic basis. In Latin America,
Casino noted strong growth especially in Brazil, where sales rose
14% on an organic basis.
The company has been hit by a string of downgrades recently but
says it remains focused on its strategic and financial
objectives.
Casino is currently undertaking an asset-disposal plan.
The shrinking of Casino's business and the company's
margin-maximization strategy could undermine its long-term
strategic position, HSBC analysts say.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
May 09, 2019 01:32 ET (05:32 GMT)
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