Casino has announced that it has launched a process to sell its renewable energy business GreenYellow. The deal could be valued at around €1.5bn, which is in line with our NAV valuation. Engie and Total Energies are touted as the potential bidders. We expect the retailer to use the proceeds to reduce the French debt. Such a move could also enhance Casino’s prospects as a M&A target, in our opinion. Positive recommendation reconfirmed.
