Casino To Divest $2.2 Billion In Assets

Casino is planning to sell off €2 billion ($2.2 billion USD) in assets as part of a plan to cut debt and improve financial performance. The move will help the retailer increase its focus in the e-Commerce, premium and convenience segments.

The retailer has already divested €2.1 billion in French assets, with plans to reach €2.5 billion by Q1 2020. This second phase of selloffs will help the company accelerate the growth of its energy, data, advertising and data center businesses, and is expected to be completed by the end of Q1 2021.