In addition to this divestment plan, Casino had recently disclosed the sale of its 11.7% stake in the Brazilian group Assai for 404 million euros (around $440 million). (Read Also: Labor Ministry Joins Forces with International Organizations to Combat Child Labor in La Guajira) By the end of 2022, Casino’s debt had reached 6.4 billion euros (approximately $6.97 billion). The company has publicly revealed this measure as part of its efforts to strengthen liquidity and establish a sustainable capital structure.

This strategic move aims to alleviate the company’s substantial debt and ensure its long-term financial stability. On Monday, the French company Casino made an announcement regarding its intention to divest its Brazilian subsidiary, Grupo Pão de Açúcar (GPA), as well as the Colombian Éxito. (Read Also: Urgent Action Needed: UN Calls for Protection of Defenders and Communities in department of Narino) Casino Group Reveals Strategic Plan to Reduce Debt, Includes Divestment of Exito and GPA Exito Shares Surge 1.47% Following Casino’s Decision to Include it in Asset Sale Planįollowing this announcement, the share price of the leading Colombian retailer surged by 1.47% to reach $4,200, marking its highest value of the year and positioning it as one of the top gainers on the Colombian Stock Market. The focus at the moment is on the separation of the Éxito and GPA businesses. However, the company reiterated that there is no specific sales schedule established yet.

The Casino Group, in its strategic plan presentation in France, confirmed that it is currently implementing a comprehensive asset sale plan, which includes its Latin American subsidiaries, Companhia Brasileira de Distribuição (“GPA”) and Exito. Casino Announces Potential Sale of Exito and GPA to Strengthen Financial Position Following this announcement, the Exito share experienced a 1.47% increase. However, the corporation emphasized that no specific timetable has been set for the sale. The French conglomerate Casino has officially stated that its subsidiaries, Exito warehouses and Companhia Brasileira de Distribuição in Colombia, are included in the list of assets that can potentially be divested as part of Grupo Casino’s three-year plan for properties sales. Casino Group Considers Divesting Exito and Companhia Brasileira De Distribuição in Colombia as Part of Asset Sale Plan

Casino stake in exito