At that price, Mr. The sale is a key step in Casino's attempts to reduce its debt pile. The retailer launched a EUR4 billion deleveraging plan in which includes selling its stake in the Thai supermarket as well as Vietnam retail assets. The sale, which is expected to complete by March 31, ot allow Casino to reduce its debt level by EUR3. Management remains bullish on Brazil, but the slowdown has made it more difficult for Casino to support the same level of debt. In December, the grocer revealed plans to sell its Vietnamese retail operation and some of its real estate holdings in Colombia--sales of x are ongoing.
Casino entered the Thai market in when it acquired a stake in Big C, before adding rival Carrefour SA's Thai operations in early As of September last year, Big C and its subsidiaries operated stores in Thailand.Casino To Sell Big C Stake To Thai TCC Group For US$ Billion - Wealth-X
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Sign Up Log In. Groupe Casino to sell stake in Thai grocer Big C. By Nick Kostov.
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Casino Group to sell Big C stake to Thai TCC Group-sources - Reuters
Most Popular. Advanced Search Submit entry for keyword results.Feb 07, · Groupe Casino to sell stake in Thai grocer Big C. Groupe Casino SA has agreed to sell its stake in Thai hypermarket operator Big C Supercenter PLC for EUR billion ($ billion) to a Thai billionaire, marking a major step in the French grocer's plans to cut its debt. Thai tycoon Charoen Sirivadhanabhakdi's holding company, TCC Group. UPDATE 2-Casino Group to sell Big C stake to Thai TCC Group. The transaction values Big C at baht ($) per share, Casino said. This is a 28 percent premium to Big C’s share price on Jan 14, when Casino announced the sale of its stake, and around 11 percent more than the close on Friday. TCC to pay € billion for Casino’s 59% stake in hypermarket operator. Groupe Casino SA has agreed to sell its stake in Thai hypermarket operator Big C Supercenter PLC for € billion ($ billion) to a Thai billionaire, marking a major step in the French grocer’s plans to cut its debt. Thai tycoon Charoen Sirivadhanabhakdi’s holding company.
Central declined to comment on the matter. The first source said Casino and TCC had moved quickly to present binding bids and financing to preempt others coming in.
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