– Strengthened organization, focused on growth drivers,
– Implementation of significant synergies leveraging the respective strengths of the different entities,
– Acquisition by Éxito of 50% of GPA voting shares owned by Casino group and 100% of Libertad in Argentina for a total amount of € 1.7 billion,
– Rebalancing of the Group’s debt structure
Casino Group is changing its organization by regrouping all its operations in Latin America. This new organization will be set up around its Colombian subsidiary Éxito and will enhance the Group’s future growth prospects in Latin America.
Casino Group has entered into a share purchase agreement with Éxito for the disposal to the latter of the following:
- a 50% stake in the French company holding the ordinary voting shares of its Brazilian subsidiary GPA, representing around 18.8% of the total capital,
- a 100% stake in Libertad (subsidiary of the Group in Argentina).
Following this transaction, Éxito will fully consolidate all the Latin American activities of the Casino Group (Brazil, Colombia, Argentina and Uruguay). This entity will cover markets representing 280 million inhabitants and will be a leading retail Group in the region positioned to follow the evolution of the customers’ needs and seize regional consolidation opportunities. This new organization will be composed of a unique combination of countries and formats:
- leadership positions of the companies in their main markets: #1 in Brazil, #1 in Colombia and #1 in Uruguay,
- combined 2014 sales of c. € 26.5 billion and EBITDA of € 2.0 billion,
- comprehensive coverage of all customer segments, with specific banners and an expertise in a mix of formats (hypermarkets, supermarkets, convenience, cash & carry, discount and specialised distribution…),
- best-in-class multi-channel network which would enhance e-commerce development thanks to a network of over 2,500 stores.