Casino Guichard continues to lighten up to improve its financial situation. The retail giant Etienne, engaged in a program of sale of non-strategic assets, has finalized the sale of 12 Géant Casino and 19 Monoprix and Casino Supermarkets, valued at 465 million euros, to Apollo Global Management. An operation to which is added to the sale, Thursday, October 17, 20 restaurants and 6 walls. Casino, which had unveiled the sale of the 31 stores in April, has already received 327 million euros for the transfer of 30 assets, while another 14 million will be paid “within twelve months” to the actual transfer of the last store, said the group in a statement.
In addition, Casino has a stake in the company formed by Apollo, which will enable it to receive “in the coming years” up to 140 million euros additional depending on the performance achieved as a result of the transaction. A 32nd store was initially included in the transaction, but it was finally excluded from the scope and will be sold by the end of 2019 to a third party, “under the same conditions,” the company said. Casino, anxious to continue its deleveraging efforts, has also announced in mid-September to be “in discussions” with the German Aldi to give it its Leader Price.