Casino to Sell Three Hypermarkets for EUR42 Million
July 24 2019 - 1:46AM
Dow Jones News
By Patrick Costello
Casino Guichard-Perrachon S.A. (CO.FR) said Wednesday that it
has agreed to sell three stores in France for a total of 42 million
euros ($46.9 million) as part of its strategy to dispose of
loss-making stores.
The transactions include the sale of its hypermarket in Marmande
to an "experienced retailer" that intends to convert the store, and
the sale of its hypermarket in Onet-le-Chateau to an associate of
the Systeme U network, the French retailer said.
Casino also agreed to sell its hypermarket in Beziers to a
Leclerc member, it said.
The three stores represented net sales of about EUR76 million in
2018, making for a trading loss of roughly EUR2 million, it said.
The transactions are slated to be completed by the end of 2019,
Casino said.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
July 24, 2019 02:31 ET (06:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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