Icade SA (FR:ICAD) has released an update.
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Icade SA has entered into a firm agreement with Groupe Casino to purchase a real estate portfolio for €50 million, consisting of 11 sites with potential for redevelopment. This strategic move aligns with Icade’s ReShapE plan to transform existing spaces into mixed-use neighborhoods, while Groupe Casino aims to use the proceeds to reduce debt and focus on strategic growth. The transaction is expected to close in the first half of 2025, with plans to create approximately 3,500 housing units and over 50,000m² of commercial space.
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