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20/08/2019

REUTERS : French retailer Casino targets further 2 billion euros of asset sales


French supermarket retailer Casino (CASP.PA) is targeting a further 2 billion euros ($2.2 billion) of asset sales as it steps up plans to cut debt and improve its financial performance.


Casino has been struggling against a tough business climate in France, where the impact of a price war among supermarket operators has dented retailers’ profit margins.
“The board of directors has validated the arbitration of assets whose disposal would be a source of value reation,” Casino said in a statement on Tuesday.
“As a result, new asset disposals for a target amount of 2 billion euros have been identified, with this second phase of the disposal plan to be completed by the end of Q1, 2021.”


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