Casino puts renewables biz GreenYellow up for sale

French retail group Casino Guichard Perrachon SA (EPA:CO) confirmed on Monday it has initiated a process to sell its renewables business GreenYellow with a deal anticipated by the end of 2022.

It added it has so far received no binding offers.

The company issued the statement in response to market speculation reported by the press. French financial newspaper Les Echos reported that the business is hoped to fetch about EUR 1.5 billion (USD 1.56bn) and that French energy groups TotalEnergies SE (EPA:TTE) and Engie SA (EPA:ENGI) and Portugal's EDP - Energias de Portugal SA (ELI:EDP) are potential candidates.

GreenYellow is an energy transition player, offering customers solar generation and energy efficiency solutions. The company operates in 16 countries on four continents -- Europe, South America, Asia and Africa and has more than 740 MWp of installed capacity.

(EUR 1 = USD 1.039)

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