(Bloomberg) -- Casino Guichard-Perrachon SA has signed an agreement with Rocca Group and Auchan Retail France for the sale of its Corsica unit as it seeks to raise cash amid a debt restructuring.

The French operator of grocery stores announced the move in a statement released on Saturday, but didn’t disclose the value of deal. The company said last week it was in exclusive talks with the buyers.

Casino’s Codim 2 subsidiary operates four hypermarkets, nine supermarkets, three cash & carries and two drive-throughs in Corsica. Its sales reached €332 million ($355 million) in 2023, excluding taxes.

Under the terms of the deal, Rocca Group will take over all of Codim 2 stores, which will be operated under the Auchan banner, as well as all store and head office employees.

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