Connection

popular articles

Nilepet takes control of Petronas assets in South Sudan
Zambia turns to South Africa and Zimbabwe for electricity
800 coal-fired power plants to be replaced by solar installations by 2030
CGG changes its name to Viridien
Zelestra obtains 132 million euros for its solar power plant in India

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.
La sortie de Géant Casino de GreenYellow

Please share:

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.

.

Register free of charge for uninterrupted access.

Publicite

Latest news

Axpo secures 163 MW of renewable energy in France through Urbasolar and Volkswind
Barcelona inaugurates the first urban network utilizing residual cold from an LNG terminal
The CERN and Voltalia: A Solar Partnership for Decarbonized Energy
REDEN inaugurates a cutting-edge factory to boost photovoltaic production in France
OPEC+ faces strategic choices to stabilize the oil market in 2024

Recently published in

Axpo secures 163 MW of renewable energy in France through Urbasolar and Volkswind

Axpo's solar and wind divisions secure a total of 163 MW in two tenders in France, strengthening their key role in the European energy transition strategy.
EDF: An investigation opened into undue benefits for its former executives
The National Financial Prosecutor's Office is investigating suspicions of public fund misappropriation involving EDF. Material benefits were allegedly granted to its former executives without any legal framework over several years.
en_1140645540
EDF: An investigation opened into undue benefits for its former executives
The National Financial Prosecutor's Office is investigating suspicions of public fund misappropriation involving EDF. Material benefits were allegedly granted to its former executives without any legal framework over several years.
en_1140645540
Masdar completes strategic acquisition of TERNA ENERGY to accelerate growth in Europe
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
en_1140638540
Masdar completes strategic acquisition of TERNA ENERGY to accelerate growth in Europe
Masdar strengthens its global energy portfolio with the acquisition of 70% of TERNA ENERGY, marking a key step in the strategic transfer of assets for Europe’s energy transition.
en_1140638540
Eni distributes over three million free shares to its employees
Eni distributes over three million free shares to its employees
en_1140649540
Eni distributes over three million free shares to its employees
Eni distributes over three million free shares to its employees
en_1140649540

Africa Oil strengthens its strategic shareholding in Impact Oil: 39.5% of shares acquired

Africa Oil Corporation increases its stake in Impact Oil & Gas to 39.5%, consolidating its investment strategy in the Orange Basin of Namibia, a key region for the oil sector.
Scandal Adani: 20% Stock Drop After CEO Indictment
The Indian conglomerate Adani suffered a record loss on the stock market after the indictment of Gautam Adani in the United States, accused of paying $250 million in bribes for solar projects in India.
en_1140543540
Scandal Adani: 20% Stock Drop After CEO Indictment
The Indian conglomerate Adani suffered a record loss on the stock market after the indictment of Gautam Adani in the United States, accused of paying $250 million in bribes for solar projects in India.
en_1140543540
Technip Energies anticipates 43% revenue growth by 2028
Technip Energies, a key player in energy engineering, announces ambitious forecasts: over €8.6 billion in revenue by 2028 and strengthened diversification towards decarbonization and sustainable technologies.
en_1140540540
Technip Energies anticipates 43% revenue growth by 2028
Technip Energies, a key player in energy engineering, announces ambitious forecasts: over €8.6 billion in revenue by 2028 and strengthened diversification towards decarbonization and sustainable technologies.
en_1140540540
TerraForm Power Appoints Mark Noyes as CEO to Drive Its Strategy
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
en_1140529540
TerraForm Power Appoints Mark Noyes as CEO to Drive Its Strategy
Mark Noyes, a seasoned expert in renewable energy, joins TerraForm Power as CEO to steer the company’s growth strategy in the face of industry challenges and opportunities.
en_1140529540

Wood Mackenzie Analysis: Trump’s Energy Policy Faces Investment Challenges but Supports Renewables

Wood Mackenzie anticipates a protectionist shift under Trump’s presidency, marked by a retreat from net-zero ambitions. However, renewables and the IRA will continue shaping the U.S. energy future.
Enel announces €43 billion in investments and a dividend increase
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
en_1140480540
Enel announces €43 billion in investments and a dividend increase
The Italian group Enel plans to invest €43 billion by 2027, focusing on networks and renewable energies, while increasing dividends for its shareholders.
en_1140480540
France: Primagaz urged to address massive customer service failures
Hundreds of complaints highlight major failures at Primagaz due to a change in its IT system. The Energy Ombudsman demands immediate action to protect affected consumers.
en_1140470540
France: Primagaz urged to address massive customer service failures
Hundreds of complaints highlight major failures at Primagaz due to a change in its IT system. The Energy Ombudsman demands immediate action to protect affected consumers.
en_1140470540
Boralex: Results Decline in Q3 2024 Despite Strategic Advancements
Despite a 3% drop in production for the third quarter of 2024, Boralex is pushing forward with new strategic renewable energy projects and strengthening its operational resilience.
en_1140458540
Boralex: Results Decline in Q3 2024 Despite Strategic Advancements
Despite a 3% drop in production for the third quarter of 2024, Boralex is pushing forward with new strategic renewable energy projects and strengthening its operational resilience.
en_1140458540

Schneider Electric: Olivier Blum leads from Dubai to boost emerging markets

The new CEO of Schneider Electric, Olivier Blum, moves to Dubai to oversee growth in India and the Middle East, strategic regions for the company's energy and digital transition efforts.
TotalEnergies: at COP29, Patrick Pouyanné advocates progress “step by step”
At COP29, TotalEnergies CEO Patrick Pouyanné defended the oil industry's commitment to reducing methane emissions, emphasizing the importance of gradual progress in addressing the climate crisis.
en_1140455540
TotalEnergies: at COP29, Patrick Pouyanné advocates progress “step by step”
At COP29, TotalEnergies CEO Patrick Pouyanné defended the oil industry's commitment to reducing methane emissions, emphasizing the importance of gradual progress in addressing the climate crisis.
en_1140455540
Vallourec: stable net income despite declining sales in Q3 2024
The French industrial giant Vallourec reported a slight drop in net income to €73 million in Q3 2024. This stability is attributed to its premiumization strategy and strong margins despite challenging market conditions.
en_1140466540
Vallourec: stable net income despite declining sales in Q3 2024
The French industrial giant Vallourec reported a slight drop in net income to €73 million in Q3 2024. This stability is attributed to its premiumization strategy and strong margins despite challenging market conditions.
en_1140466540
Nexans sets ambitious financial goals driven by electrification
Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
en_1140439540
Nexans sets ambitious financial goals driven by electrification
Nexans aims for increased financial performance by 2028, supported by significant investments in global electrification and a strategy focused on energy transition and recycling.
en_1140439540

Masdar and KESH join forces to transform Albania’s energy strategy

Masdar and KESH sign a strategic partnership to develop large-scale renewable energy projects, positioning Albania as a key player in the European energy market.
Orlen invests $850 million to modernize Poland’s energy network
Polish energy giant Orlen partners with the European Investment Bank to modernize its energy distribution network, aiming to integrate renewable solutions and strengthen operational efficiency.
en_1140386540
Orlen invests $850 million to modernize Poland’s energy network
Polish energy giant Orlen partners with the European Investment Bank to modernize its energy distribution network, aiming to integrate renewable solutions and strengthen operational efficiency.
en_1140386540
The EIP fund increases its share to 10% in Plenitude, Eni’s green division
The Energy Infrastructure Partners (EIP) fund strengthens its investment in Plenitude, Eni's renewable energy subsidiary, valued at over 10 billion euros, to support its strategic growth.
en_1140365540
The EIP fund increases its share to 10% in Plenitude, Eni’s green division
The Energy Infrastructure Partners (EIP) fund strengthens its investment in Plenitude, Eni's renewable energy subsidiary, valued at over 10 billion euros, to support its strategic growth.
en_1140365540
Halliburton faces profit drop in North America in the third quarter
In the third quarter, Halliburton reports a 20% drop in net profit, mainly impacted by a cyberattack and slowing demand in North America, its key market.
en_1140371540
Halliburton faces profit drop in North America in the third quarter
In the third quarter, Halliburton reports a 20% drop in net profit, mainly impacted by a cyberattack and slowing demand in North America, its key market.
en_1140371540

Enel reports a profit of 5.9 billion euros despite falling energy prices

The Italian energy giant Enel announces a 38% increase in net profit over nine months, reaching 5.9 billion euros, despite a context of falling electricity prices.
Nexans creates Lynxeo, a dedicated entity for its industrial cables
Cable manufacturer Nexans announces the creation of Lynxeo, a distinct entity for its industrial cable business, aiming for greater clarity and market visibility.
en_1140360540
Nexans creates Lynxeo, a dedicated entity for its industrial cables
Cable manufacturer Nexans announces the creation of Lynxeo, a distinct entity for its industrial cable business, aiming for greater clarity and market visibility.
en_1140360540
The world’s largest battery manufacturers unite for a sustainable supply chain
The Global Battery Alliance reveals the results of a collaborative project involving the world’s largest battery manufacturers to harmonize transparency and sustainability in the battery supply chain.
en_1140347540
The world’s largest battery manufacturers unite for a sustainable supply chain
The Global Battery Alliance reveals the results of a collaborative project involving the world’s largest battery manufacturers to harmonize transparency and sustainability in the battery supply chain.
en_1140347540
Engie targets the top of its 2024 forecasts after strong quarterly performance
Engie targets the top of its 2024 forecasts after strong quarterly performance
en_1140349540
Engie targets the top of its 2024 forecasts after strong quarterly performance
Engie targets the top of its 2024 forecasts after strong quarterly performance
en_1140349540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS