Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for 735 million euros
Paris, March 20th, 2020,
Casino Group today announces that it has signed a unilateral promise to sell to Aldi France 3 warehouses and 567 stores in the Leader Price perimeter in mainland France, for an enterprise value of €735 million (including a €35 million earn-out, paid in the event of compliance with operational indicators during a transition period).
With this agreement, the transferred Leader Price stores will develop under the Aldi banner and will benefit from the commercial dynamics of Aldi France.
Casino Group will remain the owner of the Leader Price brand in order to continue to operate it under certain conditions agreed with Aldi, in France and internationally.
The sale will take place after consultation with employee representative bodies and subject to obtaining the authorization of the French Competition Authority.
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
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