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Home Business The energy supplier GreenYellow, subsidiary of Casino, could change hands

The energy supplier GreenYellow, subsidiary of Casino, could change hands

Will GreenYellow change shareholder and parent company? It would seem so, according to the information from our colleagues from . The Casino group, which owns the company specializing in renewable energies, would have mandated several banks to accelerate its sale. Among them would be the Rothschild bank, but also four other councils, namely HSBS, Crédit Agricole, BNP Paribas and Natixis. They would be in charge of the sale of the company created in 2007. According to , the group of Jean-Charles Naouri would hope for 1.5 billion euros.

With an estimated turnover in 2020 of around 250 million euros, GreenYellow is owned by Casino. Present in 16 countries, the company has more than 3,000 sites under energy performance contracts and has already installed (or is in the process of installing) 520 photovoltaic power plants. Casino opened its capital in 2018, bringing in the Bpifrance and Tikehau Capital funds for 150 million euros. He retained 72.3%. According to , the expected sum would be a valuation fifteen times higher than the EBITDA (Earnings before interest, taxes, depreciation, and amortization) forecast for 2022. It was 80 million euros last year. Bpifrance and Tikehau would agree to the sale.

First offers within a fortnight?

At the end of 2020, GreenYellow had signed the government charter “Objectif 100,000 terminals” alongside other French large-scale retailers such as Leclerc, Lidl and Système U, with a view to deploying 100,000 charging points for electric vehicles. While Casino had announced last year a possible IPO, the subsidiary of Casino could arouse interest. According to information from our colleagues, Engie and TotalEnergies are in the running. Casino hopes to receive the first offers within the next fortnight. Another interested player: EDP (Energias de Portugal), while GreenYellow is well established in Latin America. But the most serious potential buyer could well be Engie.

Its managing director, Catherine MacGregor, wishes to accelerate its strategy towards renewable energies. In addition, Engie has already entered into a partnership with GreenYellow by creating ReservoirSun, one of the leading players in solar self-consumption. also indicate that large funds would also closely follow the file, in particular one of them composed of the French Ardian, the Americans KKR and Blackstone, the Swedish EQT and the Swiss Partners Group. Questioned by our colleagues, Casino did not comment, but the group must relieve itself of a large debt by 2023. To continue to grow, GreenYellow also requires greater investments.

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