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Groupe Casino completes sale of 67 Monoprix real estate assets for €742M

French supermarket chain Casino Guichard-Perrachon Société Anonyme said Dec. 21 that it completed the sale of 53 Monoprix real estate assets to the Generali Group and 14 such properties to Ag2r La Mondiale for €742 million.

The assets, whose disposals were completed Dec. 20, fetch a total annual rent of €35.4 million. The sale agreements were signed Sept. 28 and Oct. 17, the company said.

Groupe Casino has been selling off its Monoprix supermarket chain locations since announcing June 11 a €1.5 billion asset disposal plan to cut debt. It also divested a 15% stake in real estate subsidiary Mercialys for €213 million in July.

The company said it sold a total of €1.1 billion worth of assets at 2018-end, exceeding its initial disposal target.