Casino Guichard Perrachon (EU:CO)
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2 Months : From Jun 2019 to Aug 2019
By Cristina Roca
France's Casino Guichard-Perrachon SA (CO.FR) said Monday that it has agreed to sell its subsidiary Vindemia to GBH for an enterprise value of 219 million euros ($245.7 million).
Vindemia will become part of GBH's retail division once the sale is completed. In the agreement signed between the two companies, GBH has committed to sell stores to a third party in anticipation of possible concerns from competition authorities, Casino said.
The financially troubled supermarket in June last year announced a plan to dispose of nonstrategic assets, which by May this year amounted to EUR2.5 billion.
Write to Cristina Roca at firstname.lastname@example.org; @_cristinaroca
(END) Dow Jones Newswires
July 22, 2019 02:32 ET (06:32 GMT)
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