July 22, 2019 / 6:21 AM / 3 months ago

Casino sells subsidiary Vindémia as part of debt-cutting plans

PARIS, July 22 (Reuters) - Casino, which is under pressure over debts at the group and at its parent company Rallye, has agreed to sell its subsidiary Vindemia for 219 million euros ($246 million), the French supermarket retailer said on Monday.

Casino is selling the business to retail company GBH. Vindemia is the leading retailer in the Indian Ocean region including Reunion Island, Madagascar, Mayotte and Mauritius.

$1 = 0.8913 euros Reporting by Sudip Kar-Gupta; editing by Jason Neely

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