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Casino, Guichard-Perrachon SA
Regulatory Filings • Aug 20, 2019
1183_iss_2019-08-20_fcbf05aa-b63b-4d6a-82fb-f3641de03479.pdf
Regulatory Filings
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August 20, 2019
The Casino Group completes its strategic plan and accelerates its execution in order to focus its development on buoyant segments, adapted to market changes. In this context, the Board of Directors approved new asset arbitrations, in France, for a target amount of €2 billion by the end of the first quarter of 2021.
As part of the preparation of its 2022 strategic plan, the Group's Board of Directors confirmed, for France, all the following strategic directions:
- − Accentuation of the Group's unique positioning in buoyant formats (e-commerce, premium and convenience) and geographies;
- − Acceleration in new high-growth businesses (energy, data and advertising, data centers);
- − In financial matters, priority is given to generating recurring cash flows.
These strategic directions, which accentuate the priority axes of the 2019-2021 Plan, will enable Casino to capitalize on its leadership positions, and pursue the growth of its results in a French market undergoing profound transformation.
In this context, and in view of the advance recorded on the first phase of the disposal plan (€2.5 billion to be completed by Q1 2020, of which €2.1 billion has been signed to date), the detailed review of assets in France has been completed. The Board of Directors has validated the arbitration of assets whose disposal would be a source of value creation. As a result, new asset disposals for a target amount of €2 billion have been identified, with this second phase of the disposal plan to be completed by the end of Q1 2021.
This process completes the transformation of the business model that has been started for several years. The Group will thus have, in France, a set of activities adapted to the new needs of consumers and benefiting from synergies accentuated by the consistency of their positioning.
CASINO GROUP
ANALYST AND INVESTOR CONTACTS:
Régine GAGGIOLI - [email protected] - +33 (0)1 53 65 64 17 Or +33 (0)1 53 65 24 17 - IR\[email protected]
PRESS CONTACTS:
Casino Group – Direction of Communication Stéphanie ABADIE - [email protected] - +33 (0)6 26 27 37 05 Or +33(0)1 53 65 24 78 - [email protected]
Agence IMAGE 7 Karine ALLOUIS - [email protected] Grégoire LUCAS - [email protected] - 33(0)1 53 70 74 84
Disclaimer
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice.
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