Free Trial

CONSUMER STAPLES: Casnio (COFP; Secured PIK; NR/NR/B+) store sales progress

CONSUMER STAPLES

Below an update on its "strategic plan". More interesting is how secondary liquidity is for French hypermarkets; "As a result of the Group's refocusing on convenience stores, around 350 hypermarkets and supermarkets have been sold since the end of 2023...18 stores and four logistics platforms have no buyer identified".

Reminder ITM (225) and Auchan (98) took the bulk while Carrefour (25) took a smaller portion - despite having largest market share. Might be worthwhile noting liquidity in secondary - for Auchan's sake.

Keep reading...Show less
82 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Below an update on its "strategic plan". More interesting is how secondary liquidity is for French hypermarkets; "As a result of the Group's refocusing on convenience stores, around 350 hypermarkets and supermarkets have been sold since the end of 2023...18 stores and four logistics platforms have no buyer identified".

Reminder ITM (225) and Auchan (98) took the bulk while Carrefour (25) took a smaller portion - despite having largest market share. Might be worthwhile noting liquidity in secondary - for Auchan's sake.

Keep reading...Show less