FRANCE: Casino buys out Franprix, Leader Price investors
By: just-food.com | 13 November 2009
Groupe Casino, the French retailer, has taken 100% control of its Franprix and Leader Price chains after buying out fellow shareholders from the Baud family.
The company said this morning (13 November) that it had paid EUR428.6m (US$636.9m) to buy the Baud family's 5% stake in Franprix and 25% shareholding in Leader Price.
Last month, Casino sold its majority holding in Dutch retailer Super de Boer in a deal with privately-owned Dutch grocer Jumbo.
Casino said that transaction would allow the company to reduce its debt by around EUR400m.
The company said the deal represented a "key milestone" in its EUR1bn asset disposal programme to be completed by the end of next year, designed to give the group "increased financial flexibility".
Sectors: Retail
Companies: Casino, Super de Boer
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