French retailer Casino has announced the 'additional and definitive' disposal of 5% of Mercialys equity through the Mercialys total return swap (TRS).
The move is a part of the company’s asset disposal plan and will see the group cash-in €26 million.
The proceeds will be allocated to the escrow account dedicated to gross debt reimbursement, the company said.
In terms of voting rights, the disposal reduces Casino’s stake in Mercialys to 20.3% from 25.3%.
Founded in 2005, Mercialys is a part of the Casino Group and operates in the real estate sector.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.