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French Retailer Casino Plans To Sell Its Energy Unit

Author: Shivani Kumaresan | May 16, 2022 07:16am

French retailer Casino Group or Casino Guichard Perrachon SA(OTC:CGUSY) has launched a process to sell its energy subsidiary GreenYellow.
Energy giant TotalEnergies SE (NYSE:TTE) and power company ENGIE SA (OTC:ENGIY) were in the fray to acquire GreenYellow, valued at about $1.56 billion, Reuters reported.
GreenYellow had raised about €200 million in February to support future growth.
Casino targets to close the transaction by 2022 end.
Price Action: TTE shares closed higher by 3.50% at $53.50 on Friday.