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 percent, including transfer costs.

Casino will receive approximately 80 percent of the asset value less registration tax, ie, €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 11 June 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.