Casino to Sell Vindemia to GBH in EUR219 Million Deal

Date : 07/22/2019 @ 7:47AM
Source : Dow Jones News
Stock : Casino Guichard Perrachon (CO)
Quote : 42.85  -1.08 (-2.46%) @ 2:01AM

Casino to Sell Vindemia to GBH in EUR219 Million Deal

Casino Guichard Perrachon (EU:CO)
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   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)

Copyright (c) 2019 Dow Jones & Company, Inc.


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