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Casino pulls out of GreenYellow

Casino finalizes the sale of its residual stake in GreenYellow for 46 million euros, marking a crucial milestone in its financial restructuring.

energynews
Le 15 May 2024

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Casino Group, a long-standing player in the French retail sector, announced on Monday the sale of its remaining 10.15% stake in GreenYellow to Ardian and Bpifrance. This operation is part of a gradual withdrawal that began in October 2022, when Casino sold the majority of its shares for 600 million euros. The current agreement, which should be finalized before the end of May 2024, is presented as a decisive turning point for Casino, as it refocuses on its core activities while settling its financial commitments.
The amount of the transaction, estimated at around 46 million euros, illustrates the importance of this operation as part of Casino’s overall debt reduction strategy. This amount will be used in particular to settle all mutual receivables between Casino and GreenYellow, resulting in particular from the previous sale of supermarket assets to the Les Mousquetaires group and to Auchan, a transaction facilitated by the accelerated safeguard procedure.

Financial and strategic implications for Casino

This move illustrates Casino’s determination to simplify its financial structure and free itself from non-essential commitments, at a time when the Group also changed shareholders at the end of March. This sale marks the end of Casino’s involvement in the renewable energy sector, a field in which GreenYellow had distinguished itself through innovative initiatives such as the installation of solar panels and the provision of energy performance contracts.
By withdrawing completely from GreenYellow, Casino is closing an important chapter in its history in renewable energy. This transition is also a clear indicator of the Group’s strategic refocusing on its traditional distribution activities, following a period of financial turbulence and major structural readjustments.
The completion of the sale of GreenYellow by Casino illustrates a pragmatic evolution in the management of the Group’s assets, steering Casino towards a more sustainable financial trajectory and a refocusing on its retail activities. This operation demonstrates Casino’s commitment to optimizing its business model and responding effectively to the challenges of the retail market.

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