The Casino Group signs an agreement with funds managed by Fortress Investment Group for the sale of 26 hypermarkets and supermarkets properties worth €501 million, of which €392 million will be received in first-half 2019

Under the agreement, the Casino Group will sell a portfolio of 13 Géant Casino hypermarkets, 3 Casino hypermarkets and 10 Casino supermarkets properties in the first half of 2019.

Located primarily outside of Paris in the Group's traditional French operating regions, the 26 properties represent €31.8 million in annual rent and offer an estimated yield of 5.9%, including transfer costs.

Casino will receive approximately 80% of the asset value less registration tax, i.e., €392 million, on completion of the transaction in the first half of 2019.

Funds managed by Fortress Investment Group will create a specific entity to acquire the portfolio in order to enhance its value and sell it on the market under the best possible conditions. The Casino Group will receive an interest in this new entity, enabling it to benefit from the value created by the transaction.

Depending on the entity's performance, the Casino Group could receive up to an additional €150 million in the next few years.

This transaction brings the aggregate disposal of non-strategic assets to € 1.5 billion, and therefore achieves the Group's initial objective which was set out on June 11, 2018.

After the success of this first step, the Group will continue to explore measures to further reduce its debt. It will also continue to improve the Group's profitability and strengthen its financial profile.

CASINO GROUP

ANALYST AND INVESTOR CONTACTS:

Régine GAGGIOLI - rgaggioli@groupe-casino.fr - +33 (0)1 53 65 64 17
Or
+33 (0)1 53 65 24 17 - IR_Casino@groupe-casino.fr

PRESS CONTACTS:

Casino Group - Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05
Or
+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
Karine ALLOUIS - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr
- 33(0)1 53 70 74 84 -

Disclaimer

This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice.

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Signing with Fortress for the sale of 26 hyper/supermarkets properties
Jan 21, 2019