Casino has put its subsidiary specializing in renewable energies (of which it owns 72.3%, alongside Tikehau and Bpifrance) up for sale, we learned from a source familiar with the matter, confirming information from
Les Échos
.
He mandated the Rothschild bank, Natixis, BNP Paribas, Crédit Agricole and HSBC, which distributed an “info memo” to potential buyers on April 22.
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Firm offers are expected in early June.
Casino hopes to raise the stakes to at least 1.5 billion euros.
The other shareholders of GreenYellow would also be sellers.
The French energy giants Engie, which has set up a joint venture with GreenYellow, and TotalEnergies are in the running, as is the Portuguese EDP.
Casino had considered putting its subsidiary on the stock market, before giving up on it at the start of the summer of 2021.
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GreenYellow achieved an Ebitda of 80 million euros last year.
It specializes in the installation and management of rooftop solar panels for professional customers, in France and around the world, with a strong presence in South Africa.
A more profitable activity than the large renewable energy fields and the supply of electricity to individuals and businesses, an activity from which GreenYellow has wanted to separate since January.
In recent months, takeovers have multiplied in renewables.
TotalEnergies has taken over certain activities of its American subsidiary SunPower.
With Crédit Agricole Assurances, Engie got its hands on the Spanish renewable energy developer Eolia last November.
In December, the family oil company Rubis acquired the French solar energy producer Photosol.
At the end of April, the American fund KKR filed a public takeover bid for the overseas energy company Albioma.