French retailer Casino has sold store properties worth EUR100m (US$126.2m) to property investment fund AEW Immocommercial.
The deal takes in 42 stores, a mixture of superettes, Casino supermarkets, Franprix convenience shops and Leader Price discount outlets.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Casino said it would continue to run the stores under long-term rent leases. The company is also looking to offload four other supermarket properties to another unnamed buyer.
The transactions will trim Casino’s trading profit by under EUR5m in 2009 and have no impact on net profit, it said.
