Groupe Casino :Signing of an agreement with funds managed by Fortress Investment Group for the sale of 26 hypermarkets and su...
21 Janvier 2019 - 7:47AM
The Casino Group
signs an agreement with funds managed by Fortress Investment Group
for the sale of 26 hypermarkets and supermarkets properties worth
€501 million, of which €392 million will be received in first-half
2019
Under the agreement, the Casino
Group will sell a portfolio of 13 Géant Casino hypermarkets, 3
Casino hypermarkets and 10 Casino supermarkets properties in the
first half of 2019.
Located primarily outside of Paris
in the Group's traditional French operating regions, the 26
properties represent €31.8 million in annual rent and offer an
estimated yield of 5.9%, including transfer costs.
Casino will receive approximately
80% of the asset value less registration tax, i.e., €392 million,
on completion of the transaction in the first half of 2019.
Funds managed by Fortress
Investment Group will create a specific entity to acquire the
portfolio in order to enhance its value and sell it on the market
under the best possible conditions. The Casino Group will receive
an interest in this new entity, enabling it to benefit from the
value created by the transaction.
Depending on the entity's
performance, the Casino Group could receive up to an additional
€150 million in the next few years.
This transaction brings the
aggregate disposal of non-strategic assets to € 1.5 billion, and
therefore achieves the Group's initial objective which was set out
on June 11, 2018.
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.
***
Signing with Fortress for the sale
of 26 hyper/supermarkets properties
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