By Olivia Bugault

Casino Guichard-Perrachon SA (CGUSY) said Friday that it signed unilateral purchase commitments to sell six of its stores for a total 18.3 million euros ($20.6 million).

The French supermarket company said the sale of its stores, which include one hypermarket, four supermarkets and one Leader Price, is part of its strategy to sell structurally loss-making stores, and should be completed during the second half of 2019.

"The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules," the company said.

Casino specified that the stores represented a trading loss of roughly three million euros in 2018.

Write to Olivia Bugault at olivia.bugault@dowjones.com

(END) Dow Jones Newswires

June 07, 2019 02:28 ET (06:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Casino Guichard Perrachon (EU:CO)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024 Plus de graphiques de la Bourse Casino Guichard Perrachon
Casino Guichard Perrachon (EU:CO)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024 Plus de graphiques de la Bourse Casino Guichard Perrachon