Sold to Mousquetaires, Auchan (Il Sole 24 Ore Radiocor) - Paris, 02 Jul - The French retailer Casino said it has sold 66 stores to its peers Groupement Les Mousquetaires and Auchan Retail France based on an enterprise value of 213 million euros.

Based on agreements reached on January 24, 2024, Groupement Les Mousquetaires and Auchan Retail France are due to take over all the employment contracts of employees assigned to the transferred stores and service stations, 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 employees to apply for available positions, or to offer them the chance to become store managers.

Casino also announced that it has sold its controlling 51% stake in five hypermarkets to Groupement les Mousquetaires.

Groupement les Mousquetaires already holds a 49% stake in these hypermarkets since September 30, 2023.

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(RADIOCOR) 02-07-24 12:52:16 (0370) 5 NNNN