August 20, 2019 / 6:07 AM / a month ago

French retailer Casino targets further 2 bln euros of asset sales

PARIS, Aug 20 (Reuters) - French supermarket retailer Casino is targeting a further 2 billion euros ($2.2 billion) of asset sales, stepping up plans to cut debt and improve financial performance.

“The board of directors has validated the arbitration of assets whose disposal would be a source of value creation,” Casino said in a statement on Tuesday.

“As a result, new asset disposals for a target amount of 2 billion euros have been identified, with this second phase of the disposal plan to be completed by the end of Q1, 2021.” ($1 = 0.9023 euros) (Reporting by Sudip Kar-Gupta Editing by David Goodman)

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