Casino sells remaining 10.15% stake in energy unit GreenYellow for 46 mln euros

Dow Jones Industrial Average DJI	0.00	0.00%
Gencor Industries, Inc. GENC	0.00	0.00%
S&P 500 index SPX	0.00	0.00%
NASDAQ IXIC	0.00	0.00%

PARIS, May 13 (Reuters) - French food retailer Casino CASP.PA said it has sold 10.15 % of its remaining stake in renewable energy unit GreenYellow for 46 million euros to investment fund Ardian and French state-backed investment bank Bpifrance.

In July 2022, Casino and partners agreed to sell a majority stake in GreenYellow to Ardian, based on an enterprise value of 1.4 billion euros.

At the time, Casino owned 76% of GreenYellow, which installs solar panels on supermarket roofs, produces low-cost electricity and helps lower companies' power consumption.

Casino has sold a string of assets - including its supermarkets - to shore up its balance sheet. The firm said in March it had completed its financial restructuring under a leadership team formed around Czech billionaire Daniel Kretinsky.

(Reporting by GV De Clercq, Editing by Louise Heavens)

((geert.declercq@tr.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.