French Retailer Casino Plans To Sell Its Energy Unit

French retailer Casino Group or Casino Guichard Perrachon SACGUSY has launched a process to sell its energy subsidiary GreenYellow.
Energy giant TotalEnergies SE TTE and power company ENGIE SA 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.