After months of negotiations and speculation, the sale of Casino’s stake in GreenYellow has finally been completed, marking the end of an era for the French retail giant. The deal, which was finalized late last night, sees Casino selling its 41% stake in the energy management company to Tikehau Capital, a leading alternative asset management firm.
The sale comes as no surprise to industry insiders, as Casino has been looking to divest its non-core assets in order to focus on its core retail business and reduce its debt burden. GreenYellow, which specializes in energy efficiency and solar power solutions, was seen as a valuable asset for Casino but ultimately was deemed non-essential to its long-term strategy.
The sale is expected to generate significant proceeds for Casino, which has been under pressure to reduce its debt levels following a string of acquisitions in recent years. The deal is also expected to have a positive impact on Casino’s financial performance, with the company forecasting a boost to its EBITDA in the coming quarters.
For Tikehau Capital, the acquisition of GreenYellow represents a strategic move to expand its presence in the renewable energy sector. The firm has been actively seeking opportunities in this space, and GreenYellow’s strong track record and established market position make it an attractive investment.
“We are thrilled to have completed the acquisition of GreenYellow and are excited about the potential for growth and innovation in the renewable energy sector,” said Antoine Flamarion, co-founder of Tikehau Capital. “We see tremendous opportunity in GreenYellow’s business model and look forward to working with the management team to drive further success.”
The completion of the sale marks the beginning of a new chapter for GreenYellow, which will now operate as an independent entity under the ownership of Tikehau Capital. The company’s management team, led by CEO Gilles Martin, remains in place and is enthusiastic about the opportunities that lie ahead.
“We are grateful for the support and partnership of Casino over the years, and we are excited to begin this new chapter with Tikehau Capital,” said Martin. “We believe that this acquisition will enable us to accelerate our growth and continue to deliver innovative solutions to our customers.”
Overall, the completion of the sale of Casino’s stake in GreenYellow is seen as a positive development for all parties involved. Casino can now focus on its core retail business, while Tikehau Capital gains a valuable asset in the renewable energy sector. GreenYellow, for its part, can look forward to a bright future as it embarks on a new journey with a new owner at the helm.
