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Casino completes sale of 3 hypermarkets to Leclerc

French food retailer Casino Guichard-Perrachon SA on May 29 said it completed the sale of three hypermarkets to E.Leclerc SA for €38 million.

Casino sold its properties in Castelnaudary, Anglet and Castres. The company said the sales were not part of its €2.5 billion asset disposal plan.

In January 2019, Casino sold six Géant hypermarkets to Leclerc for a total consideration of €100.5 million.

In April, S&P Global Ratings lowered its issuer credit rating on Casino Group to BB- from BB, with a negative outlook, citing the retailer's increased leverage and weak cash flow.