Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
5 October 2018
Gide advises Casino Group on signing a commitment to sell a portfolio of Monoprix property assets worth a net EUR 565M
On 28 September 2018, Casino Group signed a reciprocal commitment contract with a leading institutional investor for the sale of 55 Monoprix sites with a homogenous geographical spread that is representative of the brand's presence nationwide. 19 of these assets are located in the Paris region. After deducting registration fees, the transaction amounts to a total of 565 million euros, for an annual lease payable by Casino of 27 million euros. The sale proceeds will be received on 27 December 2018 at the latest.
By including the 15% sale of Mercialys via a total return equity swap, the operations carried out to date within the deleveraging plan amount to 778 million euros. Moreover, Casino Group has received additional indicative offers on other assets that are included in its disposal plan, which could be approved before the end of the year.
In its half-yearly results, the major French retailer had announced the implementation of an assets disposal plan, in particular real estate, for a total of 1.5 billion euros, half of which was to be carried out in 2018.
Gide's team advising Group Casino on this operation is headed by partner Stanislas Dwernicki, with associates Romain d'Innocente, Louis Delestrée and Rémi Avon, on corporate and real estate aspects, partner Guillaume Navarro on employment law aspects, and partner Emmanuel Reille on competition aspects.
Gide's team advising Group Casino on this operation is headed by partner Stanislas Dwernicki, with associates Romain d'Innocente, Louis Delestrée and Rémi Avon, on corporate and real estate aspects, partner Guillaume Navarro on employment law aspects, and partner Emmanuel Reille on competition aspects.
