Casino Sells Corsica Unit to Rocca, Auchan Amid Debt Restructure

Casino Guichard-Perrachon SA has signed an agreement with <-bsp-bb-link state="{"bbHref":"bbg://securities/1206022D%20IM%20Equity","_id":"00000190-4052-d497-a7fb-ec5f801f0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Rocca Group and <-bsp-bb-link state="{"bbHref":"bbg://securities/7519108Z%20FP%20Equity","_id":"00000190-4052-d497-a7fb-ec5f801f0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Auchan Retail France for the sale of its Corsica unit as it seeks to raise cash amid a debt restructuring.

The French operator of grocery stores announced the move in a <-bsp-bb-link state="{"bbDocId":"SFHHWCTP3SHW","_id":"00000190-4052-d497-a7fb-ec5f80200000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">statement released on Saturday, but didn’t disclose the value of deal. The company <-bsp-bb-link state="{"bbDocId":"SF23FQDWRGG0","_id":"00000190-4052-d497-a7fb-ec5f80200001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">said last week it was in exclusive talks with the buyers.

Casino’s Codim 2 subsidiary operates four hypermarkets, nine supermarkets, three cash & carries and two drive-throughs in Corsica. Its sales reached €332 million ($355 million) in 2023, excluding taxes.

Read more: <-bsp-bb-link state="{"bbDocId":"S5CWKADWX2PS","_id":"00000190-4052-d497-a7fb-ec5f80210000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Casino Buyers Tell ...