Groupe Casino: Group Casino announces that it has reached agreements with Auchan Retail and Groupement Les Mousquetaires for the sale of Casino hypermarkets and supermarkets
24 Enero 2024 - 7:00AM
Groupe Casino: Group Casino announces that it has reached
agreements with Auchan Retail and Groupement Les Mousquetaires for
the sale of Casino hypermarkets and supermarkets
Group Casino announces that it has
reached agreements with Auchan Retail and Groupement Les
Mousquetaires for the sale of Casino hypermarkets and
supermarkets
Paris, 24 January 2024
At the end of the exclusive negotiations
initiated on December 18, 20231, concerning the sale by the Group
Casino of almost all of its hypermarkets and supermarkets2, the
Group Casino announces that it has reached agreements with Auchan
Retail France* and Groupement Les Mousquetaires**.
These agreements provide for the sale of 288
stores (and the service stations attached to the stores), based on
an enterprise value of between 1.3 and 1.35 billion euros. The
sales to Auchan and Groupement Les Mousquetaires form an
indivisible whole.
The disposals will take place in the 2nd quarter
of 2024, after consultation with the relevant employee
representative bodies.
The agreements also stipulate that, as part of
the transaction, Auchan will maintain activity at the
Aix-en-Provence 1 (Bouches-Du-Rhône) warehouse, and that the
logistics services contracts for Montélimar Frais (La Drôme),
Corbas Gel (Rhône) and Salon-de-Provence Gel (Bouches-Du-Rhône)
will be transferred to Groupement Les Mousquetaires, guaranteeing
long-term employment at these sites.
Groupement Les Mousquetaires has also asked its
partner ID Logistics to examine the possibility of taking over an
additional base in the Centre-Est region.
Employee buyout
Groupement Les Mousquetaires and Auchan have
undertaken to:
- take
over all the employment contracts of employees assigned to the
transferred stores and service stations, in accordance with article
L. 1224-1 of the French Labour Code, and
-
maintain, for employees assigned to the stores, the provisions and
benefits resulting from the Casino collective statutes for a period
of 15 months from the date of completion of the transfer3.
Other employee commitments
Groupement les Mousquetaires and Auchan Retail
France have also undertaken to encourage Group Casino employees to
apply for available positions, or to offer them the chance to
become store managers.
An HR monitoring committee will be set up with
Groupement Les Mousquetaires and Auchan as soon as the first store
disposals are implemented. The commissioners responsible for
implementing the plan, who will be appointed as part of the
accelerated safeguard plan, will also be involved.
Next steps
The operation will also be subject to
obtaining:
- all the
usual authorizations required for the transfer of stores or service
stations, and
- the
necessary merger control authorizations from the relevant
competition authorities, or the decisions of the relevant
competition authorities granting a waiver of the suspensive effect
of the merger control procedure.
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.
***
Pursuant to the European Commission's
Implementing Regulation (EU) 2016/1055 of 29 June 2016 relating to
the technical procedures for the publication and deferral of inside
information, this press release was communicated to Casino's
authorized distributor for release on 24 January 2024 at 14:00
CET.
***
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. Recipients should
not consider it as a substitute for the exercise of their own
judgement. All the opinions expressed herein are subject to change
without notice.
***
ANALYSTS AND INVESTORS
CONTACTS
Christopher WELTON -
cwelton.exterieur@groupe-casino.fr - Tel: +33 (0)1 53 65 64 17
orIR_Casino@groupe-casino.fr - Tel: +33 (0)1 53 65
24 17
PRESS CONTACTS
Groupe Casino Communications
Stéphanie Abadie -
sabadie@groupe-casino.fr – Tel: +33 (0)6 26 27 37
05ordirectiondelacommunication@groupe-casino.fr - Tel: + 33(0)1 53
65 24 78
Agence IMAGE 7
Karine Allouis - kallouis@image7.fr - Tel: +33
(0)6 11 59 23 26
Laurent Poinsot - lpoinsot@image7.fr - Tel: +
33(0)6 80 11 73 52
Franck Pasquier - fpasquier@image7.fr - Tel: +
33(0)6 73 62 57 99
* a unilateral promise to purchase** a protocol of
intent (to which a draft promise to purchase is appended)
1 See press release of December 18, 2023.2
Excluding Codim 2, which owns the hypermarkets and supermarkets in
Corsica, and including the perimeter of franchised stores subject
to their agreement.3 Barring more favorable benefits applicable to
transferred employees and/or negotiation of a substitution
agreement under articles L. 2261-14 et seq. of the French Labor
Code.
- 2024 01 24 - PR - Signature with ITMxAuchan
Casino Guichard Perrachon (EU:CO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Casino Guichard Perrachon (EU:CO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024