On September 28, 2018, Casino Group has signed a synallagmatic agreement with a major institutional investor for the disposal of 55 Monoprix real estate assets, with a geographical mix representative of the overall Monoprix footprint with 19 assets in Paris region. After deducting registration fees, the net amount of the transaction is €565M for an annual rent of €27M. The proceeds from the disposal will be received no later than 27 December 2018.
Including the disposal of 15% of Mercialys via a TRS, the operations realized within the deleveraging plan amount to €778M to date. Moreover, Casino Group has already received additional indicative offers on other assets that are included in the disposal plan, which could materialize before the end of the year.
Casino Group confirms all of its 2018 objectives. Continued good operational performance and the progressive roll-out of new profitability levers (New Horizon purchasing alliance, further data monetization, accelerated external development of GreenYellow) will enable Casino Group to improve its retail trading profit in France in 2019 at a similar pace to 2018, including the effects of additional rents.
CASINO GROUP
ANALYST AND INVESTOR CONTACTS:
Régine GAGGIOLI - rgaggioli@groupe-casino.fr - +33 (0)1 53 65 64 17
Or
+33 (0)1 53 65 24 17 - IR_Casino@groupe-casino.fr
PRESS CONTACTS:
Casino Group - Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05
Or
+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr
Agence IMAGE 7
+33(0)1 53 70 74 84 - Karine ALLOUIS - kallouis@image7.fr - Grégoire LUCAS - gregoire.lucas@image7.fr
Disclaimer
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice.
In accordance with European Commission Implementing Regulation (EU) 2016/1055 of 29 June 2016 with regard to the technical means for appropriate public disclosure of inside information and for delaying the public disclosure of inside information, this press release was communicated to Casino's primary information provider on 01 October 2018 at 7.30am Paris time.
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