To sell 30 real estate assets in H2 (Il Sole 24 Ore Radiocor) - Paris, 01 Jul - Troubled French retailer Casino said it has signed a binding agreement with Tikehau Capital for the sale of a portfolio of 30 real estate assets with the sale price to be paid in several installments, with over 200 million euros to be received on the sale date scheduled for the second half of 2024, and subsequent earnouts to be received in the future.

The portfolio comprises hypermarket and supermarket premises leased to the Casino, Intermarche', Carrefour and Auchan banners, as well as ancillary lots within these real estate complexes, some with real estate development potential.

Tikehau and the retailer also signed an agreement whereby Casino will manage the portfolio for a period of five years.

This transaction will reduce Groupe Casino's financial debt to the bondholders of its subsidiary Quatrim.

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(RADIOCOR) 01-07-24 13:02:54 (0311) 5 NNNN