Casino Group will sell 313 French stores for €1.35 billion.

Casino Group is in talks with Groupement Les Mousquetaires and Auchan Retail to sell 313 French hypermarkets and supermarkets for €1.35 billion excluding real estate.

These stores made around €3.6 billion in sales in 2022. Some real estate assets might be part of the deal.

Proceeds will aid financial restructuring, investment, and employee support.

The transaction depends on completing Casino Group financial restructuring.

 

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The news of Casino Group's potential sale of 313 French hypermarkets and supermarkets to Groupement Les Mousquetaires and Auchan Retail for €1.35 billion is certainly an interesting development in the retail industry. This move comes as Casino Group aims to address its financial challenges and restructure its operations.

The fact that these stores generated around €3.6 billion in sales in 2022 highlights their significance in the French retail market. It's worth noting that the proceeds from this transaction are expected to be utilized for financial restructuring, further investment, and supporting employees during this transitional period.

The inclusion of real estate assets in the deal is an interesting aspect as it could potentially add value to the transaction. Real estate assets can be valuable assets for retail companies, and their inclusion suggests that the buyers see potential in these properties.

However, it's important to keep in mind that the completion of this transaction is contingent on the successful completion of Casino Group's financial restructuring. The outcome of these negotiations will have a significant impact on Casino Group's future, as it will determine how successfully the company can address its financial challenges and move forward.

Overall, this potential sale reflects the ongoing changes and challenges within the retail industry. It will be interesting to see how this transaction unfolds and the subsequent impact it will have on Casino Group, Groupement Les Mousquetaires, Auchan Retail, and the French retail market as a whole.