Icade: purchase of a real estate portfolio from Casino

(CercleFinance.com) - Casino and Icade Promotion announce that they have signed a binding agreement for the sale of a real estate portfolio of 11 sites, for a sale price of 50 million euros, part of which will be managed by Casino Immobilier over a four-year period.


The portfolio consists of parking lots, undeveloped land, walls and ancillary lots adjoining stores, operated by third parties and offering potential for real-estate transformation.

The real-estate management agreements also include the possibility for Casino to acquire a stake in certain companies at a later date, which will support the real-estate development projects carried out by Icade.

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