June 11, 2018 / 4:12 PM / 13 days ago

Casino targets flogging assets worth 1.5 bln euro by early 2019

PARIS, June 11 (Reuters) - Supermarket retailer Casino announced on Monday a 1.5 billion euro ($1.77 billion) asset sale plan to be completed in early 2019, part of a strategy to reduce its debts in France.

Casino said the plan complemented its ongoing disposal of Via Varejo assets in Brazil and would enable it to reduce its net debt in France by about 1 billion euros by the end of this year.

Casino’s credit rating was cut to junk by Standard & Poor’s in March 2016. ($1 = 0.8475 euros) (Reporting by Sarah White and Richard Lough)

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