Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for 735 million euros Casino Group today announces the signature with Aldi France of a unilateral promise to purchase with a view to the sale of. The phrase Free Roll suggests that some online gaming web sites present an invites to participate in tournaments online at no cost to suit your needs. It can be possible to become successful funds benefits for only registering and enjoying Charge-free Roll agen poker judi with a few other poker players worldwide. This invitation despite the.

The sale of 545 Leader Price stores, two Casino supermarkets and three warehouses by Casino to Aldi France was finalized for an enterprise value of € 717 million and proceeds from the sale of € 683 million, the group announced. of Stéphane origin this Monday evening.

Read also: Buy Leader Price, a survival imperative for Aldi in France

Of this amount, '

648 million euros [were] collected today,

' says Casino, which launched a vast plan of disposals of 4.5 billion euros to reduce its significant debt, which still reached 4.8 billion euros at the end of the first semester.

“

Up to 35 million euros in price supplement

” will be “

paid later on the basis of compliance with operational indicators during the transition period

”.

The agreement provides for the organization of a '

transition period during which day-to-day operations will continue to be managed by the Casino group until the gradual transition of stores under the Aldi brand throughout the year. 2021

”.

For its part, Aldi France explains that it is strengthening itself “

significantly

Casino Leader Price Agent

” on the French market with this acquisition.

'

The integration of these stores and warehouses allows the inventor of discount to develop its presence, in particular in Ile-de-France, in the South-East, on the Atlantic coast as well as in the big cities

', declares t it in another release.

The German group has been present in France since 1988 and claims to employ more than 10,000 people, in 862 stores currently.

To read also: The stores of La Halle interest Aldi, Lidl and Carrefour

Casino remains the owner of the Leader Price brand and will be able to operate it in France and internationally '

under certain conditions agreed with Aldi

'.

It will '

thus maintain a profitable activity as a wholesaler with 200 Leader Price Franchised stores, and external or internal customers (Franprix, Casino Géant or Casino supermarkets)

'.

'

The Casino group will now be able to focus on its promising formats such as e-commerce, premium and proximity, and on new high-growth businesses around energy and data

', estimates Jean-Charles Naouri , the CEO of Casino.

The timing may seem surprising. In the midst of the coronavirus crisis, the Casino group has just announced this Friday morning the sale of its Leader Price stores to the German discounter, Aldi. 'From the moment a sales agreement was signed, we had a legal obligation to announce it immediately,' said the spokesperson for the group.

Started several months ago, negotiations have therefore come to a conclusion on the sale of a total of 567 Leader Price stores and three warehouses in mainland France for a total amount of 735 million euros. 'With this agreement, the transferred Leader Price stores will develop under the Aldi brand and will benefit from Aldi France's commercial momentum,' said the Casino press release.

It is 'a strong signal of optimism for the brand', welcomes a press release from the Aldi group, stating that this operation 'allows the brand to strengthen its presence on the French market'. Engaged in a showdown with its rival Lidl, which already has 1,500 stores and growth to make its competitors fade, Aldi, which has 868 stores in France, will now display a number of similar stores.

Are jobs going to be cut?

The transfer may still take several weeks since 'the completion of this sale will occur after consultation with employee representative bodies and subject to obtaining authorization from the Competition Authority,' said the press release.

5,500 employees will therefore fall under the umbrella of Aldi. No details have been provided for the moment on their future and the continuity of their activity even if the employees of Leader Price hope that we will rely on the staff in place. What about Leader Price stores located in the same commercial area as Aldi? According to a count made by the magazine LSA at the end of September, there were 143 cities where the two brands face each other.

A situation that worries employees, especially since neither of the two groups raises this sensitive issue of employment. “What will Aldi do in cities where there are two Aldi and two Leader Price for example? Questions Michel Rieux, the CGT central union representative of Distribution Casino France. 'We suspect that they will not keep all the stores, but when we questioned them, lately, they did not communicate about anything: will they enlarge certain stores, keep the employees or not, we are in the dark total, ”he said.

Casino group weighed down by colossal debt

The Leader Price brand does not disappear. The Casino group remains the owner and will even continue to operate 70 stores under this brand in France, only in areas far from those of Aldi. 'At the same time, the 95 Overseas and Italian Leader Prices also remain Leader Price,' said the spokesperson.

Casino Leader Price Agency

Threatened by an enormous debt, the Casino group, which had been placed in the safeguard procedure by justice in May 2019, obtained at the beginning of March a new period of 3 years, which runs until 2023. To clear its debt, Casino s 'is notably found new financial allies, but also separates from part of its empire, by refocusing on what works: the premium (Monoprix in particular).

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In parallel with the sale of Leader Price to Aldi, he would also negotiate the acquisition of 40 hypermarkets by Leclerc, after having already sold several hypermarkets to other brands (Super U, etc.)