Paris, 18 December 2023
Casino Group, on the one hand, and Groupement Les Mousquetaires and Auchan Retail, on the other hand, announce that they have entered into exclusive negotiations today with a view to the proposed sale by Casino Group of substantially all of Casino Group's hypermarkets and supermarkets1 to Groupement Les Mousquetaires and Auchan Retail, based on a fixed enterprise value of 1.35 billion euros (excluding real estate).
The scope of integrated stores represents total sales for 2022 of around 3.6 billion euros excluding VAT (excluding petrol) for 313 stores. All employees of the transferred stores would be taken over by Groupement Les Mousquetaires and Auchan Retail.
Certain real estate assets could also be included in the scope of the transaction.
The proceeds will be used to support the planned financial restructuring, investment in the retained perimeter, and social support for the concerned employees.
These discussions will be submitted for consultation with employee representative bodies, the relevant regulatory authorities and the respective governing bodies of Casino Group, Groupement Les Mousquetaires and Auchan Retail.
This transaction is notably subject to the completion of the financial restructuring of Casino Group.
It should be noted that the consortium (EP Equity Investment III s.à.r.l, Fimalac and Trinity Investments Designated Activity Company) has given its prior approval to enter into exclusive discussions, in accordance with the lock-up agreement dated 5 October 2023 and still in force.
This project remains subject to a binding agreement between the parties, which could be reached before the end of the first quarter of 2024, and of which the market will be kept informed.
Listing of Casino shares, suspended today, will resume tomorrow morning at the opening of the market.
***
This press release was prepared solely for information purposes and should not be construed as, nor constitute, a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
***
ANALYSTS AND INVESTORS CONTACTS
Christopher WELTON - cwelton.exterieur@groupe-casino.fr - Tel: +33 (0)1 53 65 64 17
or
IR_Casino@groupe-casino.fr - Tel: +33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group - Communications Director
Béatrice MANDINE - bmandine@groupe-casino.fr - Tel: + 33 (0)6 48 48 10 10
or
directiondelacommunication@groupe-casino.fr - Tel: + 33(0)1 53 65 24 78
Agence IMAGE 7
Karine Allouis - kallouis@image7.fr - Tel: +33 (0)6 11 59 23 26
Laurent Poinsot - lpoinsot@image7.fr - Tel: + 33(0)6 80 11 73 52
Franck Pasquier - fpasquier@image7.fr - Tel: + 33(0)6 73 62 57 99
1 Excluding Codim 2, which covers the hypermarkets and supermarkets located in Corsica, and including the perimeter of franchised stores subject to their agreement
