(Finance) – Following the agreements reached in January with Auchan Retail France and Groupement Les Mousquetaires as well as in February with Carrefour for the sale of a total of 287 stores, Casino Group announced the sale of 121 stores. The disposals of the remaining 166 stores will take place in two phases, on 31 May 2024 and 1 July 2024 respectively.
The operation is based on a enterprise value of the stores sold equal to 698 million euros.
Groupement Les Mousquetaires, Auchan Retail France and Carrefour have committed to: detect all employee employment contracts assigned to relocated stores and service stations; and maintain, for store employees, the provisions and benefits deriving from Casino’s collective statutes for a minimum period of 15 months from the date of completion of the transfer.
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