PARIS (Reuters) – The Competition Authority approved on Thursday the purchase of 61 Casino stores by Intermarché while requiring the sale of three of them.
The operation, announced last year, has already been carried out in September, Intermarché having been able to obtain an exemption to launch the transaction without waiting for the opinion of the Competition Authority.
At the end of its examination, the authority concluded that the operation did not present any competition problems on the supply market. On the other hand, it noted risks of harm to competition to the detriment of local consumers in three areas, in Lons-le-Saunier (39), in Plouaret (22) and in Vals-près-le-Puy (43). .
“After careful examination of the repurchase operation, the Authority authorized the repurchase of the target stores subject to commitments presented by Intermarché including the sale of three stores,” she concluded, adding that Intermarché was committed to selling the stores in question.
Casino and Intermarché, owned by the Groupement Les Mousquetaires, are also in exclusive negotiations for the takeover of almost all of the hypermarkets and supermarkets of the Saint-Etienne group in serious financial difficulties.
This project, which also includes Auchan, is conditional on the restructuring of Casino’s debt, currently in safeguard procedure.
A general meeting of Casino shareholders is being held this Thursday to approve the financial restructuring project which provides for the takeover of the group by a new management team led by Czech businessman Daniel Kretinsky.
(Written by Nicolas Delame and Tangi Salaün, edited by Blandine Hénault and Sophie Louet)
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