Deleveraging of the Group by €3.3bn and capital gain of €2.4bn
French retailer Groupe Casino will trim debt by selling its stake in Thailand-listed hypermarket chain Big C Supercenter PCL for €3.1 billion ($3.5 billion) to TCC Group, a Thailand-based.
- Feb 07, 2016 Groupe Casino SA has agreed to sell its stake in Thai hypermarket operator Big C Supercenter PLC for EUR3.1 billion ($3.46 billion) to a Thai billionaire, marking a.
- Dec 18, 2015 SET-listed Big C Supercenter Plc has insisted its parent company Casino Group of France will not sell assets in Thailand to cut massive debts next year. Denying a rumour on social media that.
Casino Group has completed today the disposal of its stake in Big C Supercenter PCL, listed in Thailand (« Big C ») to one of the subsidiaries of the TCC group, the BJC group. The disposal proceeds amount to €3.1bn, allowing a €3.3bn deleveraging of the Group with a capital gain of €2.4bn.
The Big C shares, acquired in 1999 for an average price of THB 9 per share, have been sold for THB252,88 per share, a 28% premium to the share price on 14 January 2016. This transaction values Big C at a 2015 sales multiple of c. 1.7x and a 2015 EBITDA multiple of 16.8x.
This disposal is part of the constant policy of key assets’ acquisitions and mature assets’ disposals, led by the Group over the past 10 years.
Finally, as part of this transaction, Cnova completed the disposal of its economic interests in Cdiscount Thailand to the BJC group for a total amount of €28m.