Casino raises 200 million euros through real estate sale to Tikehau Capital (updated)

Tikehau Capital SCA

27/09/2024 07:58

(Adds details from Tikehau statement)
       PARIS, Sept 27 (Reuters) - French supermarket retailer
Casino  CASP.PA  sold commercial real estate assets worth over
200 million euros  ($223.48 million) to investment firm Tikehau
Capital, it said on Friday, adding that it would use the cash to
reduce its pile of debt. 
    Casino, which last year clinched a deal with Czech
billionaire Daniel Kretinsky to avert bankruptcy, is going
through restructuring proceedings, including massive job cuts
and asset sales.
    The portfolio consists of 26 assets, mainly hypermarkets and
supermarkets leased out to French retailers, Tikehau Capital
said in a separate statement. "Additionally, several properties
offer real estate development potential", the firm added.
        Casino will keep running the assets for Tikehau over the
next five years. 
  
        Tikehau already bought 30 similar properties from Casino
in June.       
  
     
($1 = 0.8949 euros)

 (Reporting by Tassilo Hummel; Editing by Benoit Van
Overstraeten)
 ((tassilo.hummel@thomsonreuters.com ; Twitter handle:
@tassilo_hummel;))