Casino: reaches agreement to sell Vindemia
(CercleFinance.com) - Casino and the family owned group GBH have announced signing a unilateral purchase agreement to sell Vindémia (a company Casino acquired gradually between 2001 and 2007) for an enterprise value of 219 million euros.
Founded in 1972 in La Réunion, Vindémia is currently the leading retailer in the Indian Ocean (Reunion, Madagascar, Mayotte, Mauritius) and has a multi-format positioning (hypermarkets, supermarkets, cash and carry and convenience stores).
To be completed, this sale will require authorisation from the Competition Authority, with GBH having committed to sell stores to a third party in anticipation of potential concerns expressed by the Authority.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Founded in 1972 in La Réunion, Vindémia is currently the leading retailer in the Indian Ocean (Reunion, Madagascar, Mayotte, Mauritius) and has a multi-format positioning (hypermarkets, supermarkets, cash and carry and convenience stores).
To be completed, this sale will require authorisation from the Competition Authority, with GBH having committed to sell stores to a third party in anticipation of potential concerns expressed by the Authority.
Copyright (c) 2019 CercleFinance.com. All rights reserved.