Casino Agrees to Sell Stores to Lidl, Leclerc for EUR42 Million
February 15 2019 - 1:54AM
Dow Jones News
By Cristina Roca
Casino Guichard-Perrachon SA (CO.FR) said Friday that it agreed
to sell a number of its stores for a total of 42 million euros
($47.4 million).
French supermarket chain said it will sell 17 of its stores to
German discount supermarket Lidl and one hypermarket to a Leclerc
member.
Casino franchisees, which are 49% owned by Casino, have also
signed an agreement to sell 16 stores to Lidl, the retailer
said.
The sales are part of Casino's strategy to divest loss-making
stores, the company said, and the disposals should be completed
during the first half of this year.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
February 15, 2019 02:39 ET (07:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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