Casino Leader Price Agen
2021年12月19日Register here: http://gg.gg/xakrm
*Casino Leader Price Agency
*Casino Leader Price Agent
Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for 735 million euros Casino Group today announces the signature with Aldi France of a unilateral promise to purchase with a view to the sale of. In addition, if gambling were to be legalized in Pennsylvania, the company held a prime site on the Philadelphia waterfront, as a gamble on future casino prospects. Principal Subsidiaries: The Connelly Group, L.P.; The President Riverboat Casino-Mississippi, Inc.; President Riverboat Casino-Missouri, Inc. Casino Group completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses Paris, 30th November 2020,Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to €35 million). After taking into account €34 million of. Home France News Casino officially sells Leader Price to Aldi France.
The timing may seem surprising. In the midst of the coronavirus crisis, the Casino group has just announced this Friday morning the sale of its Leader Price stores to the German discounter, Aldi. ’From the moment a sales agreement was signed, we had a legal obligation to announce it immediately,’ said the spokesperson for the group.
Started several months ago, negotiations have therefore come to a conclusion on the sale of a total of 567 Leader Price stores and three warehouses in mainland France for a total amount of 735 million euros. ’With this agreement, the transferred Leader Price stores will develop under the Aldi brand and will benefit from Aldi France’s commercial momentum,’ said the Casino press release.
It is ’a strong signal of optimism for the brand’, welcomes a press release from the Aldi group, stating that this operation ’allows the brand to strengthen its presence on the French market’. Engaged in a showdown with its rival Lidl, which already has 1,500 stores and growth to make its competitors fade, Aldi, which has 868 stores in France, will now display a number of similar stores. Are jobs going to be cut?
The transfer may still take several weeks since ’the completion of this sale will occur after consultation with employee representative bodies and subject to obtaining authorization from the Competition Authority,’ said the press release.
5,500 employees will therefore fall under the umbrella of Aldi. No details have been provided for the moment on their future and the continuity of their activity even if the employees of Leader Price hope that we will rely on the staff in place. What about Leader Price stores located in the same commercial area as Aldi? According to a count made by the magazine LSA at the end of September, there were 143 cities where the two brands face each other.
A situation that worries employees, especially since neither of the two groups raises this sensitive issue of employment. “What will Aldi do in cities where there are two Aldi and two Leader Price for example? Questions Michel Rieux, the CGT central union representative of Distribution Casino France. ’We suspect that they will not keep all the stores, but when we questioned them, lately, they did not communicate about anything: will they enlarge certain stores, keep the employees or not, we are in the dark total, ”he said. Casino group weighed down by colossal debt
The Leader Price brand does not disappear. The Casino group remains the owner and will even continue to operate 70 stores under this brand in France, only in areas far from those of Aldi. ’At the same time, the 95 Overseas and Italian Leader Prices also remain Leader Price,’ said the spokesperson. Dotty’s slot machines games.
Threatened by an enormous debt, the Casino group, which had been placed in the safeguard procedure by justice in May 2019, obtained at the beginning of March a new period of 3 years, which runs until 2023. To clear its debt, Casino s ’is notably found new financial allies, but also separates from part of its empire, by refocusing on what works: the premium (Monoprix in particular).
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In parallel with the sale of Leader Price to Aldi, he would also negotiate the acquisition of 40 hypermarkets by Leclerc, after having already sold several hypermarkets to other brands (Super U, etc.)Casino Group completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehousesParis, 30th November 2020,
Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to €35 million).After taking into account €34 million of net liabilities transferred with the stores, disposal proceeds reach €683 million of which (i) €648 million received today, and (ii) up to €35 million earn-out which will be paid in the event of compliance with certain operational indicators during a transition period.Furthermore, Casino group may sell additional Leader Price stores in the short term to ALDI, for an amount of up to €11 million.The agreement includes a transition period, running throughout 2021, during which the Casino group will manage the day-to-day operations until the stores are progressively converted to the ALDI banner.Casino group remains the owner of the Leader Price brand and will continue to operate it in France and internationally, under certain conditions agreed with ALDI. The Group will keep its profitable wholesale activity for 200 Leader Price franchise stores, and external or internal clients (Franprix, Casino Géant and Casino supermarkets).This sale follows information and consultation with the employee representative bodies, and the approval of the French Competition Authority which was provided on November 17th, 2020. It brings the total amount of completed non-strategic assets disposals to €2.8 billion since July 2018.Jean-Charles Naouri, Casino group’s Chairman and CEO, said: “I want to thank all of our employees in stores and warehouses for their work and commitment, and I wish them every success in their future activities within ALDI group. The sale of Leader Price to ALDI a major player in the discount retail segment, is fully in line with the Group’s transformation plan which was launched in 2018. Casino group will now fully focus on its most buoyant formats, e-commerce, premium and convenience, and on its new high-growth energy and data businesses.”DisclaimerThis press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
Casino Leader Price AgencyANALYST AND INVESTOR CONTACTS
Lionel BENCHIMOL – +33 (0)1 53 65 64 17
lbenchimol@groupe-casino.fr
or+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS CONTACTS
CasinoGroup – Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05orCasino Leader Price Agent+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.frAgence IMAGE 7
Karine ALLOUIS - +33(0)1 53 70 74 84 - kallouis@image7.fr
Franck PASQUIER – Tel : +33 (0)1 53 70 74 91 - fpasquier@image7.fr
Attachment
Register here: http://gg.gg/xakrm
https://diarynote.indered.space
*Casino Leader Price Agency
*Casino Leader Price Agent
Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for 735 million euros Casino Group today announces the signature with Aldi France of a unilateral promise to purchase with a view to the sale of. In addition, if gambling were to be legalized in Pennsylvania, the company held a prime site on the Philadelphia waterfront, as a gamble on future casino prospects. Principal Subsidiaries: The Connelly Group, L.P.; The President Riverboat Casino-Mississippi, Inc.; President Riverboat Casino-Missouri, Inc. Casino Group completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses Paris, 30th November 2020,Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to €35 million). After taking into account €34 million of. Home France News Casino officially sells Leader Price to Aldi France.
The timing may seem surprising. In the midst of the coronavirus crisis, the Casino group has just announced this Friday morning the sale of its Leader Price stores to the German discounter, Aldi. ’From the moment a sales agreement was signed, we had a legal obligation to announce it immediately,’ said the spokesperson for the group.
Started several months ago, negotiations have therefore come to a conclusion on the sale of a total of 567 Leader Price stores and three warehouses in mainland France for a total amount of 735 million euros. ’With this agreement, the transferred Leader Price stores will develop under the Aldi brand and will benefit from Aldi France’s commercial momentum,’ said the Casino press release.
It is ’a strong signal of optimism for the brand’, welcomes a press release from the Aldi group, stating that this operation ’allows the brand to strengthen its presence on the French market’. Engaged in a showdown with its rival Lidl, which already has 1,500 stores and growth to make its competitors fade, Aldi, which has 868 stores in France, will now display a number of similar stores. Are jobs going to be cut?
The transfer may still take several weeks since ’the completion of this sale will occur after consultation with employee representative bodies and subject to obtaining authorization from the Competition Authority,’ said the press release.
5,500 employees will therefore fall under the umbrella of Aldi. No details have been provided for the moment on their future and the continuity of their activity even if the employees of Leader Price hope that we will rely on the staff in place. What about Leader Price stores located in the same commercial area as Aldi? According to a count made by the magazine LSA at the end of September, there were 143 cities where the two brands face each other.
A situation that worries employees, especially since neither of the two groups raises this sensitive issue of employment. “What will Aldi do in cities where there are two Aldi and two Leader Price for example? Questions Michel Rieux, the CGT central union representative of Distribution Casino France. ’We suspect that they will not keep all the stores, but when we questioned them, lately, they did not communicate about anything: will they enlarge certain stores, keep the employees or not, we are in the dark total, ”he said. Casino group weighed down by colossal debt
The Leader Price brand does not disappear. The Casino group remains the owner and will even continue to operate 70 stores under this brand in France, only in areas far from those of Aldi. ’At the same time, the 95 Overseas and Italian Leader Prices also remain Leader Price,’ said the spokesperson. Dotty’s slot machines games.
Threatened by an enormous debt, the Casino group, which had been placed in the safeguard procedure by justice in May 2019, obtained at the beginning of March a new period of 3 years, which runs until 2023. To clear its debt, Casino s ’is notably found new financial allies, but also separates from part of its empire, by refocusing on what works: the premium (Monoprix in particular).
“It pays me” newsletter Gambling pain. The newsletter that improves your purchasing power
I’m registering
Your email address is collected by Le Parisien to allow you to receive our news and commercial offers. Find out more
In parallel with the sale of Leader Price to Aldi, he would also negotiate the acquisition of 40 hypermarkets by Leclerc, after having already sold several hypermarkets to other brands (Super U, etc.)Casino Group completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehousesParis, 30th November 2020,
Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to €35 million).After taking into account €34 million of net liabilities transferred with the stores, disposal proceeds reach €683 million of which (i) €648 million received today, and (ii) up to €35 million earn-out which will be paid in the event of compliance with certain operational indicators during a transition period.Furthermore, Casino group may sell additional Leader Price stores in the short term to ALDI, for an amount of up to €11 million.The agreement includes a transition period, running throughout 2021, during which the Casino group will manage the day-to-day operations until the stores are progressively converted to the ALDI banner.Casino group remains the owner of the Leader Price brand and will continue to operate it in France and internationally, under certain conditions agreed with ALDI. The Group will keep its profitable wholesale activity for 200 Leader Price franchise stores, and external or internal clients (Franprix, Casino Géant and Casino supermarkets).This sale follows information and consultation with the employee representative bodies, and the approval of the French Competition Authority which was provided on November 17th, 2020. It brings the total amount of completed non-strategic assets disposals to €2.8 billion since July 2018.Jean-Charles Naouri, Casino group’s Chairman and CEO, said: “I want to thank all of our employees in stores and warehouses for their work and commitment, and I wish them every success in their future activities within ALDI group. The sale of Leader Price to ALDI a major player in the discount retail segment, is fully in line with the Group’s transformation plan which was launched in 2018. Casino group will now fully focus on its most buoyant formats, e-commerce, premium and convenience, and on its new high-growth energy and data businesses.”DisclaimerThis press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.
Casino Leader Price AgencyANALYST AND INVESTOR CONTACTS
Lionel BENCHIMOL – +33 (0)1 53 65 64 17
lbenchimol@groupe-casino.fr
or+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS CONTACTS
CasinoGroup – Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05orCasino Leader Price Agent+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.frAgence IMAGE 7
Karine ALLOUIS - +33(0)1 53 70 74 84 - kallouis@image7.fr
Franck PASQUIER – Tel : +33 (0)1 53 70 74 91 - fpasquier@image7.fr
Attachment
Register here: http://gg.gg/xakrm
https://diarynote.indered.space
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