The distribution group Casino announced on Tuesday the sale of 12.9% of the capital of its Brazilian brand Assai “
in order to accelerate its deleveraging
”, he explained in a press release.
“
Casino announces today the launch of the sale of part of its stake in Assaí up to 174 million shares representing 12.9% of the capital of Assaí, in order to accelerate its deleveraging.
This number may be increased by a maximum of 80 million shares representing 5.9% of Assaí's capital
.
A few days ago, Casino had reported on this transfer project, indicating that it wanted to draw “
about 600 million dollars
” from it.
In November, the group had already sold, for approximately 500 million dollars, 10.4% of the capital of this specialist in wholesale sales for professionals and individuals listed in São Paulo and New York.
Casino only held 30.5% after the operation.
In 2022, the French distributor suffered a net loss of 316 million euros, down 40%, and recorded sales up 10% to 33.6 billion euros, mechanically inflated by soaring prices and the massive return of tourists.
If it reduced its net debt in France last year, it remains high, at 4.5 billion euros at the end of 2022.