Casino Group Enters Talks to Sell Corsican Retail Subsidiary Codim 2 to Auchan
(IN BRIEF) Casino Group has initiated exclusive negotiations with Auchan Retail France and Rocca to sell its subsidiary Codim 2, which operates various retail formats in Corsica. Codim 2, comprising hypermarkets, supermarkets, cash & carries, and drive-throughs, achieved a turnover of 332 million euros in 2023. The negotiations aim to transition all activities and employees under the Auchan banner, pending approvals from employee representatives and competition authorities.
(PRESS RELEASE) PARIS, 14-Jun-2024 — /EuropaWire/ — Casino Group has announced exclusive negotiations with Auchan Retail France and Rocca for the potential sale of its subsidiary, Codim 2, which operates a network of 4 hypermarkets, 9 supermarkets, 3 cash & carries, and 2 drive-throughs in Corsica. Codim 2 reported a turnover of 332 million euros in 2023.
The discussions aim to ensure a smooth transition for Codim 2’s operations, employees, and local partners under the Auchan brand. Casino Group emphasizes its commitment to conducting these negotiations in the best interests of all stakeholders involved.
Pending approvals from employee representative bodies and relevant competition authorities, the proposed sale will proceed through due process to finalize the transaction.
This press release has been prepared for information purposes only and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments. Similarly, it does not constitute, and should not be treated as, investment advice. It has no regard to the investment objectives, financial situation or particular needs of any Receiver. No representation or warranty, express or implied, is made as to the accuracy, completeness or reliability of the information contained herein. It should not be considered by recipients as a substitute for the exercise of their own judgment. All opinions expressed in this document are subject to change without notice.
Media Contacts:
ANALYSTS AND INVESTORS CONTACTS:
Christopher WELTON – cwelton.exterieur@groupe-casino.fr – Tel: +33 (0)1 53 65 64 17
or
IR_Casino@groupe-casino.fr – Tel: +33 (0)1 53 65 24 17
PRESS CONTACTS
Groupe Casino Communications
Stéphanie ABADIE – sabadie@groupe-casino.fr – Tel: +33 (0)6 26 27 37 05
or
directiondelacommunication@groupe-casino.fr – Tel: + 33(0)1 53 65 24 78
Agence IMAGE 7
Karine Allouis – kallouis@image7.fr – Tel: +33 (0)6 11 59 23 26
Laurent Poinsot – lpoinsot@image7.fr – Tel: + 33(0)6 80 11 73 52
Franck Pasquier – fpasquier@image7.fr – Tel: + 33(0)6 73 62 57 99
SOURCE: Casino Group
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