Groupe Casino: Disposal of 90 stores to Groupement Les Mousquetaires and Auchan Retail France [Yahoo! Finance]
CARREFOUR SA S/ADR (CRRFY)
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Source: Yahoo! Finance
Following the agreements reached on 24 January 2024, with Groupement Les Mousquetaires and Auchan Retail France and as well as on 8 February 2024, with Carrefour to sell a combined total of 287 stores, Casino Group announces today the sale of 90 stores . The disposals of the remaining 76 stores will occur on 1 July 2024. This transaction is based on an enterprise value of the stores sold of 345 million euros. It is reminded that Groupement Les Mousquetaires and Auchan Retail France have undertaken to: take over all the employment contracts of employees assigned to the transferred stores and service stations, in accordance with article L. 1224-1 of the French Labour Code, and ; maintain, for employees assigned to the stores, the provisions and benefits resulting from the Casino collective statutes for a minimum period of 15 months from the date of completion of the transfer Groupement les Mousquetaires and Auchan Retail France have also undertaken to encourage group Casino e
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