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.
