After months of negotiations and deliberations, the sale of Casino’s stake in energy solutions company GreenYellow has finally been completed. The French retail giant has announced that it has sold its entire 87% stake in GreenYellow to TPG Rise Climate, the impact investing platform of global alternative asset firm TPG.
The deal, which is valued at over €1 billion, marks a significant milestone for both Casino and GreenYellow. Casino, which has been focusing on reducing its debt and streamlining its operations in recent years, will be able to further strengthen its financial position through the sale of its stake in GreenYellow. On the other hand, GreenYellow will benefit from the investment and strategic support of TPG Rise Climate to accelerate its growth and expansion plans.
GreenYellow, founded in 2007, is a leading provider of renewable energy solutions and energy efficiency services in France and internationally. The company offers a wide range of services, including solar energy solutions, energy management systems, and energy performance contracting, to help businesses reduce their carbon footprint and energy costs.
The sale of Casino’s stake in GreenYellow comes at a time when there is a growing focus on sustainability and environmental responsibility among businesses and consumers. By partnering with TPG Rise Climate, GreenYellow will be able to leverage its expertise and resources to further develop its innovative solutions and expand its reach in key markets.
In a statement, Jean-Charles Naouri, Chairman and CEO of Casino Group, expressed his satisfaction with the completion of the sale, noting that it will allow the company to focus on its core retail activities and continue its transformation journey. He also expressed confidence in GreenYellow’s future prospects under the ownership of TPG Rise Climate.
Meanwhile, Olivier Duguet, CEO of GreenYellow, welcomed the investment from TPG Rise Climate, highlighting the firm’s commitment to sustainability and long-term value creation. He emphasized that the partnership will enable GreenYellow to accelerate its growth and enhance its ability to support clients in their energy transition efforts.
The completion of the sale of Casino’s stake in GreenYellow is expected to have a positive impact on both companies and further solidify GreenYellow’s position as a key player in the energy solutions market. With TPG Rise Climate’s support, GreenYellow will be well-positioned to capitalize on the growing demand for sustainable energy solutions and drive continued innovation in the sector.
