1. News
May 2, 2016

Casino sells Big C Vietnam food retailing business to Central Group for €1bn

France-based Casino has closed the sale of its Big C Vietnam food retailing business to Thai company Central Group for €1bn.

France-based Casino has closed the sale of its Big C Vietnam food retailing business to Thai company Central Group for €1bn.

Big C Vietnam comprises a network of 43 stores and 30 shopping malls, and has achieved a turnover of €586m last year.

Following the disposal, Casino will receive €920m in proceeds.

"The deleveraging plan of Casino is expected to reach €4.2bn once it sells Big C Thailand and Big C Vietnam."

Central Group plans to collaborate with Vietnamese group Nguyen Kim to continue the strategy of Big C Vietnam in terms of sourcing goods produced in the country.

Casino will distribute products in France, Brazil and Colombia.

In February, Casino sold its stake in Thailand’s Big C Supercenter for €3.1bn to TCC.

The deleveraging plan of Casino is expected to reach €4.2bn once it sells Big C Thailand and Big C Vietnam.

Casino is also disposing its Asian and Latin American assets in a bid to cut debt, while focusing on price and convenience in French market.

Over the past 18 years, the company made investments to develop its Big C subsidiary.

Central Group has interests in real estate, department stores, retailing, hospitality and restaurants.