Casino Group announced that it has signed an agreement with funds managed by companies affiliated with Apollo Global Management LLC, with a view to selling a portfolio of 12 Géant Casino hypermarkets and 20 Monoprix and Casino Supermarkets by the end of July 2019.
Casino Group also remains involved in the creation of value through this transaction as it retains an interest in the company formed by the funds managed by Apollo. In this context, and depending on the company's performance, Casino Group may additionally gain up to €110 million in the coming years.
This operation is part of the additional €1 billion disposal of non-core assets to be completed by 1Q20 (bringing the total non-core assets disposal plan to €2.5 billion).
Gide advised Casino group on all aspects of this transaction, with a multidisciplinary team led by Stanislas Dwernicki, partner, accompanied by Romain d'Innocente, counsel and Rémi Avon, associate, on corporate aspects, with Elisa Bocianowska, counsel, Louis Delestrée and Capucine Pelissié, associates, on real estate aspects, Bertrand Jouanneau, partner, Alexandre Bochu, counsel, Alan Sournac, associate, on tax aspects, and Kamel Ben Salah, partner, on financing aspects.
Apollo Global Management LLC was advised by De Pardieu Brocas Maffei.