As it continues to dispose of non-core assets and focus on its operations in France and Latin America, Casino has agreed to sell its operations in the Indian Ocean.
Disposal to grow Casino’s focus
Casino has agreed to sell Vindémia to GBH for an enterprise value of €219m. The sale would mark a further step in Casino’s attempts to sell bits of its operations, including stores in France, and simplify its operations, such as restructuring its structure in Latin America.
Sale to require approval before completion
Making the announcement, Casino described Vindémia as ‘the leading retailer in the Indian Ocean (Madagascar, Mauritius, Mayotte and Reunion Island)’. Vindémia operates a multichannel strategy including hypermarkets, supermarkets, cash and carry and proximity stores. The companies said the sale would require ‘consultation with employee representative bodies and subject to approval by the French Competition Authority.’