Casino Guichard-Perrachon SA said Nov. 30 that the company completed the sale of 545 Leader Price stores to ALDI Einkauf GmbH & Co. oHG's French unit for an enterprise value of €717 million.

The sale, which was announced in March, also includes two Casino supermarkets and three warehouses. Net proceeds will total €683 million, considering the net liabilities of €34 million transferred with the stores.

Casino Group received €648 million, while the remaining €35 million will be paid in the event of compliance with certain operational indicators during a transition period. Under the agreement, Casino Group will continue to own the Leader Price brand, but the stores will be developed under the Aldi banner.

Meanwhile, the French food retailer noted that it might sell additional Leader Price stores to Aldi in the short term for up to €11 million.

With this divestiture, Casino Group completed a total disposal of €2.8 billion worth of non-strategic assets since July 2018.