Casino announces intention for further divestment
Casino has this morning released a statement this morning - outlining BRIEFLY its strategic plan and POTENTIAL further asset sales for 2020 and 2021. They propose to accelerate further assets totalling an additional €2bn to be completed by end of Q1 2021. We believe it is unlikely to related significantly to LATAM assets as this would require disclosure in the LATAM exchanges.
This announcement reiterates our preference for the short and medium term paper in Casino as the Company refocuses on value creation and realisation at the Casino level (to boost the share value of Casino, which in turn will support the Rally structure.
……..., and in view of the advance recorded on the first phase of the disposal plan (€2.5 billion to be completed by Q1 2020, of which €2.1 billion has been signed to date), the detailed review of assets in France has been completed. The Board of Directors has validated the arbitration of assets whose disposal would be a source of value creation. As a result, new asset disposals for a target amount of €2 billion have been identified, with this second phase of the disposal plan to be completed by the end of Q1 2021.