PARIS (Agefi-Dow Jones)–The Casino supermarket group announced on Tuesday that the sale of its renewable energy subsidiary GreenYellow to the Ardian fund would take place by October 18 at the latest.
“Casino, Tikehau and Bpifrance signed the final sale contract with Ardian on September 16, 2022 for the sale of a majority stake in GreenYellow,” the group said in a press release.
“All the regulatory authorizations required for the control of concentrations and foreign investments having been obtained, the effective realization will take place on October 18, 2022 at the latest, the date on which the group will lose control of the subsidiary”, added Casino. .
Specialist in the production of renewable energy, GreenYellow recorded a gross operating surplus (Ebitda) of 80 million euros in 2021, up 30% over one year. The company, which deploys solar power plants on the roofs of stores, provides energy efficiency services to businesses.
In accordance with the preliminary transfer agreement announced at the end of July, Casino will reinvest 165 million euros in the company, of which it will thus retain 15% of the capital. Net of this reinvestment, proceeds from the disposal amounted to €600 million for Casino’s share.
Casino said on Tuesday that it had already received 350 million euros of this amount under a pre-financing operation concluded with Farallon Capital.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: ECH
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September 20, 2022 13:13 ET (17:13 GMT)