This is one of the first steps in the restructuring of Casino. In great financial difficulty and bought by Czech billionaire Daniel Kretinsky last July, the distribution group has, as planned, “completed the sale of the first wave” of 61 stores to the Les Mousquetaires/Intermarché group. An announcement made official this Monday, October 2 by the two groups, citing an “enterprise value of 209 million euros including service stations” for this sale.
The two food distribution specialists, respectively the seventh and third players in the sector, agreed in May on a sale of 119 stores in two waves involving 4,000 employees, with an optional third of around sixty stores. The operation allows Casino to reduce its debt and Intermarché to increase its market share.
3769 COVER DANIEL KRETINSKY
© / art presse – S. KRUPAR – LAIF/REA
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