Casino raises 200 million euros through real estate sale to Tikehau Capital
Adds details from Tikehau statement
PARIS, Sept 27 (Reuters) -French supermarket retailer Casino CASP.PA sold commercial real estate assets worth over 200 million euros ($223.48 million) to investment firm Tikehau Capital, it said on Friday, adding that it would use the cash to reduce its pile of debt.
Casino, which last year clinched a deal with Czech billionaire Daniel Kretinsky to avert bankruptcy, is going through restructuring proceedings, including massive job cuts and asset sales.
The portfolio consists of 26 assets, mainly hypermarkets and supermarkets leased out to French retailers, Tikehau Capital said in a separate statement. "Additionally, several properties offer real estate development potential", the firm added.
Casino will keep running the assets for Tikehau over the next five years.
Tikehau already bought 30 similar properties from Casino in June.
($1 = 0.8949 euros)
Reporting by Tassilo Hummel; Editing by Benoit Van Overstraeten
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