PARIS (Agefi-Dow Jones)–The retail group Casino has received three purchase offers for its subsidiary specializing in the production of renewable energies GreenYellow, for amounts approaching the desired price of 1.5 billion euros , sources familiar with the matter told the Agefi-Dow Jones agency on Tuesday.
“Last Thursday, the deadline for submitting offers, Casino had received three good proposals from the investment funds Macquarie, I Squared Capital and SHV, while other potential buyers, including Engie, have requested additional time to decide. of their candidacy for the acquisition of GreenYellow”, confides one of these sources. “The amounts offered by these three investors are more or less around the sale price of 1.5 billion euros set by the directors of Casino,” she adds.
On Tuesday, BFM Business reported that the appetite of potential buyers for GreenYellow was “limited”. Industrialists in the energy sector such as TotalEnergies, Vinci, Neoen, Voltalia or Spie “quickly studied the sale file but are not, for the moment, ready to buy GreenYellow”, “which only interests a few investment funds” , adds the economic media. This information weighs on the title, indicates a Parisian analyst, the action of the distributor falling by 8.6%, to 16.32 euros.
Contacted by the agency Agefi-Dow Jones, Macquarie, I Squared Capital and SHV could not be reached immediately, while a representative of Engie was unable to comment on this information.
Last month, Casino announced that it had launched a process to sell GreenYellow, in which the distributor owns 73% of the capital, in the hope of concluding a transaction by the end of this year.
The sale of GreenYellow is eagerly awaited by investors as it would allow Casino to deleverage and complete its asset disposal plan for France by the end of 2023. Since July 2018, the group has sold for 3.3 billion euros of assets and promises to make 1.2 billion euros of additional disposals by the end of next year at the latest.
In the event of a transaction valuing 100% of GreenYellow’s capital at 1.5 billion euros, the value of Casino’s share would amount to 1.1 billion euros.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: ECH
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
June 07, 2022 07:01 ET (11:01 GMT)