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credits:casino
credits:casino

Casino seals sale of all major supermarkets

Casino has reached an agreement with Les Mousquetaires and Auchan Retail on the sale of the 288 hypermarket and supermarket locations.

According to Casino, the sale price is between 1.3 and 1.35 billion euros. The current employment contracts are to be taken over for 15 months as part of the sale.
The sale is to take place in the second quarter of 2024 after consultation with the trade unions. Trading in Casino shares was suspended on the Paris stock exchange prior to the announcement.

The agreements provide for the transfer of stores (and the service stations attached to them) in three successive waves: on 30 April 2024, 31 May 2024 and 1 July 2024.

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THE LEVEL OF EXCELLENCE WE SHOULD STRIVE FOR TODAY AND TOMORROW
Originally developed solely to meet the daily needs of consumers, shopping centers quickly became an asset class. The model worked very well for a long time, but as consumer behavior has changed, so have the requirements of tenants, operators and investors. The obvious task to satisfy customers, business partners and stakeholders is: Get your customers to return to your locations. Clear differentiation and positioning as well as a clear focus on people are crucial.
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