French supermarket retailer Casino to divest assets worth $567 million

The move is part of Casino’s debt-financing strategy.

On Monday, Casino, a French supermarket retailer, stated it is in the process of divesting assets so as to slash its debts. It aims to sell 26 of its brick-and-mortar stores in order to generate $567 million (501 million euros) in the first half of 2019.

In a statement, Casino said it would be selling 13 ‘Géant Casino’ hypermarkets, 10 Casino supermarkets and 3 other hypermarkets to the Fortress Investment Group.

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