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Casino Group: Casino Group has signed an agreement with GBH to sell its subsidiary Vindémia, the leading retailer in the Indian Ocean, for 219 million euros

Groupe Casino

Paris, 22 July 2019,

Casino Group and GBH announce, today, the signature of a unilateral purchase agreement to sell Vindémia, for an enterprise value of 219 million euros.

Founded in 1972 in Reunion Island and gradually acquired by Casino Group between 2001 and 2007, Vindémia today is the leading retailer in the Indian Ocean (Reunion Island, Madagascar, Mayotte, Mauritius) and enjoys a multi-format positioning (hypermarkets, supermarkets, cash and carry and proximity).

GBH, a family group founded in 1960, has developed from the overseas departments and internationally, at first on industrial activities and later around two businesses, automotive distribution and retail.

With this agreement, Vindémia's activities will continue and develop within GBH's Retail division.

The completion of this disposal will be achieved after consultation with employee representative bodies and subject to approval by the French Competition Authority. In the agreement, GBH has committed to sell stores to a third party in anticipation of possible concerns from the Competition Authority.

ANALYST AND INVESTOR CONTACTS
Régine GAGGIOLI – +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
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
Karine ALLOUIS  -  +33(0)1 53 70 74 84 - 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. 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. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.

 

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