On September 28, 2018, Casino Group has signed a synallagmatic agreement with a major institutional investor for the disposal of 55 Monoprix real estate assets, with a geographical mix representative of the overall Monoprix footprint with 19 assets in Paris region. After deducting registration fees, the net amount of the transaction is €565M for anannual rent of €27M. The proceeds from the disposal will be received no later than 27 December 2018.
Including the disposal of 15% of Mercialys via a TRS, the operations realized within thedeleveraging plan amount to €778M to date. Moreover, Casino Group has already received additional indicative offers on other assets that are included in the disposal plan, which could materialize before the end of the year.
Casino Group confirms all of its 2018 objectives. Continued good operational performance and the progressive roll-out of new profitability levers (New Horizon purchasing alliance, further data monetization, accelerated external development of GreenYellow) will enable Casino Group to improve its retail trading profit in France in 2019 at a similar pace to 2018, including the effects of additional rents.
