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May 22, 2006

POLAND: Casino reviewing options in Poland

Following speculation that it is about to sell its operations in Poland, the French retail group Casino Guichard Perrachon has told Agence France-Presse that it is undertaking a strategic review of its activities in the country, and that no decision on a divestment had yet been reached.

Following speculation that it is about to sell its operations in Poland, the French retail group Casino Guichard Perrachon has told Agence France-Presse that it is undertaking a strategic review of its activities in the country, and that no decision on a divestment had yet been reached.

The company first moved into Poland in 1996 and last year its operations there – 18 hypermarkets and 205 discount stores – recorded revenues of EUR800m.

The company said that while the review was ongoing, it would continue to invest in its Polish operations. “Poland is an interesting market, as are all the Baltic countries,” Casino’s spokesperson for Poland Damian Ponczek told AFP.

As a group, Casino is currently engaged in a major restructuring programme which is aimed at reducing debt and boosting profitability. As part of that programme, the company is looking to refocus on its core French operations, and on southeast Asian and Latin America.

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