Casino in Talks with Aldi to Sell Discount Chain Leader Price
September 20 2019 - 2:11AM
Dow Jones News
By Pietro Lombardi
Casino Guichard-Perrachon SA (CO.FR) is in talks with German
competitor Aldi to sell its Leader Price chain of discount stores,
the French retailer said late Thursday.
The company's statement confirms a report from French daily Les
Echos and comes as the company is trying to tackle its debt burden.
Its majority shareholder Rallye SA (RAL.FR) has entered into
bankruptcy protection in France.
The talks, which started after Aldi sent an expression of
interest for Leader Price, are aimed at the submission of a binding
offer, Casino said.
No financial details were disclosed, but Les Echos said the deal
could be worth more than 400 million euros ($441.9 million).
Last month Casino said that it had identified around EUR2
billion of assets in France that it intends to sell, in addition to
a separate EUR2.5 billion disposal plan.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
September 20, 2019 01:56 ET (05:56 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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