Gide, counsel to Casino Group on signing a synallagmatic agreement for the disposal of a portfolio of 14 Monoprix real estate assets
19 October 2018
Deals | France | Real Estate Transactions & Financing
On 17 October 2018, Casino Group signed a synallagmatic agreement with AG2R La Mondiale for the disposal of 14 Monoprix real estate assets and subsequent lease of the real estate assets to Monoprix, with a geographical mix representative of the overall Monoprix footprint. After deducting registration fees, the net amount of the transaction is 180 million euros, for an annual lease payable by Casino of 8.6 million euros. The proceeds from the disposal will be received no later than January 2019.
Earlier this month, Casino had signed the sale of a first portfolio of 55 Monoprix real estate assets and lease back of these real estate assets, of which 19 in the Paris region, for 565 million euros.
Gide's team advising Group Casino on this operation is headed by partner Stanislas Dwernicki, with associates Romain d'Innocente, Louis Delestrée and Rémi Avon on corporate and real estate aspects, partner Guillaume Navarro on employment law aspects, and partner Emmanuel Reille on competition aspects. The same team had already advised Casino on the sale of 55 Monoprix sites.