(BFM Bourse) – According to Bloomberg, the Saint-Etienne group could combine its activities with those of Teract, which includes Jardiland, Gamm vert and Boulangerie Louise among its brands.
The Casino group is considering a merger of its distribution activities in France with the company Teract, the agency reports on Wednesday. Bloomberg citing sources familiar with the matter.
Casino is in preliminary discussions for a possible transaction worth several billion dollars, the Saint-Etienne group aiming for a majority share in the possible future together, specifies Bloomberg.
Contacted, Casino declined to comment. Teract did not immediately respond to a request for comment.
Merger with the SPAC of Niel and Pigasse
Teract is a player in so-called responsible distribution present in garden centres, pet stores and food distribution, listed on the Paris Stock Exchange since last August.
The group is the result of the merger between the listed investment vehicle (SPAC) set up by businessmen Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari and the distribution branch of the agricultural cooperative InVivo.
Its brands include Jardiland, Gamm vert, Delbard, Boulangerie Louise and Bio&Co.
On the Paris Stock Exchange, Casino shares closed up 1.9% while Teract shares gained 6%.
(with Reuters)
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