OREANDA-NEWS. Casino announces the closing of the sale of Big C Vietnam to Central Group, for an enterprise value of €1 billion, implying 2015 multiples of 1.8x net sales, 20.4x EBITDA and 34.4x EBIT.

The proceeds to be received by the Group will amount to €920 million.

Central Group is one of the main family-owned conglomerates in Thailand with interests in real estate, department stores, retailing, hospitality and restaurants.

Casino Group has made significant investments for more than 18 years to develop its subsidiary Big C in Vietnam and to create a leading food retailer in Vietnam. Big C Vietnam consists of a network of 43 stores and 30 shopping malls and has achieved in 2015 a turnover excluding taxes €586 million.

Big C Vietnam has built strong relationships with its Vietnamese suppliers and farmers, its customers, its employees and the local authorities and communities, which allowed the development of modern retail in the country.

Central Group in partnership with Vietnamese group Nguyen Kim will continue the strategy of Big C Vietnam notably regarding sourcing of goods produced in Vietnam for Big C stores.

Casino will continue its sourcing activity of Vietnamese food products distributed in France, Brazil and Colombia.

After the disposal of its subsidiaries Big C Thailand and Big C Vietnam, the deleveraging plan of the Group reaches €4.2 billion.