Casino Group has officially announced that it has successfully disposed of its remaining shares in GreenYellow, a leading player in energy transition services. This move comes as part of the French retailer’s ongoing strategy to streamline its operations and focus on its core business.
The transaction, which was completed through an accelerated bookbuilding process, saw Casino Group sell its 8.3% stake in GreenYellow for a total consideration of €400 million. This represents a significant return on the retailer’s initial investment in the company, which was made back in 2017.
GreenYellow was founded in 2007 and has since become a key player in the energy transition sector, offering a wide range of services including energy production, storage, and management solutions for commercial and industrial clients. The company operates in several countries, including France, Brazil, and Southeast Asia, and has seen significant growth in recent years.
Casino Group first invested in GreenYellow in 2017 as part of its efforts to diversify its business and capitalize on the growing demand for sustainable energy solutions. However, as the retailer continues to focus on its core activities in the retail and e-commerce sectors, the decision to sell its stake in GreenYellow was made in order to optimize its portfolio and generate additional cash flow.
Commenting on the transaction, Casino Group CEO Jean-Charles Naouri stated, “This disposal is in line with our strategy to simplify our group structure and focus on our core business activities. GreenYellow has been a valuable partner for us over the years, and we are confident that the company will continue to thrive under new ownership.”
The proceeds from the sale of its stake in GreenYellow will be used to strengthen Casino Group’s financial position and support its ongoing growth initiatives. The retailer has been facing challenges in recent years, including increased competition and changing consumer preferences, and is working to adapt to the evolving retail landscape.
Overall, the disposal of its remaining shares in GreenYellow marks a significant milestone for Casino Group as it continues to position itself for future success in the competitive retail sector. The retailer remains committed to driving innovation and sustainability across its operations while delivering value for its shareholders.
