The coronavirus pandemic does not prevent international business and the stock markets from operating. The Casino and Adli groups (German company) do not forget the international context, which is currently delicate. Before announcing their agreement, they made it clear, this Monday, March 23, 2020, that the two parties had been discussing for several months.
Adli becomes the owner of 3 warehouses and 567 stores in mainland France. Casino pocketed € 735 million from this sale.
Adli becomes the owner of 3 warehouses and 567 stores in mainland France. Casino pocketed € 735 million from this sale.
The Casino group keeps the shops of La Réunion under its thumb
The Casino group will be responsible for operating the stores internationally by complying with the conditions signed with Adli as specified on the official site ofafranchise.fr: “The Casino group will continue to operate 70 franchised stores in France under the Leader Price banners and 90 abroad (Italy, Belgium and the Indian Ocean) via master franchises”.
The representative bodies of Leader Price employees will be consulted. This transaction must also be validated by the Competition Authority. Needless to say, this validation cannot take place for several weeks given the Covid-19 pandemic which affects the planet. —
