Groupe Casino : Completion of the sale of properties to funds managed by Fortress
11 Mars 2019 - 8:01AM
March 11,
2019
The Casino Group
has completed the sale of 26 hypermarkets and supermarkets
properties valued at €501 million to funds managed by Fortress
Investment Group, of which €392 million has already been
received
Following the agreements signed
with funds managed by Fortress Investment Group in January 2019,
the Casino Group announces that it has completed the sale of 13
Géant Casino, 3 Hyper Casino and 10 Supermarkets Casino properties,
valued at €501 million.
In this context, Casino received
€392 million, thus achieving the initial target of €1.5 billion in
non-strategic asset disposals, set on 11 June 2018.
The Casino Group also remains
associated to the value creation of this transaction through a
stake in the company incorporated by funds managed by Fortress
Investment Group. In this context and depending on the company's
performance, the Casino Group could receive up to an additional
€150 million in the next few years.
After the success of this first
step, the Group will continue to explore measures to further reduce
its debt.
It will also continue to improve the Group's profitability
and strengthen its financial profile.
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
Karine ALLOUIS - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr
- 33(0)1 53 70 74 84 -
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.
***
Completion of the sale of
properties to Fortress
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
Casino Guichard Perrachon (EU:CO)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Casino Guichard Perrachon (EU:CO)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024