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 cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

July 22, 2019 02:32 ET (06:32 GMT)

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