Canadian company claim Kochi Tard The acquisition of the French giant Carrefour is already causing unrest in the French government. It happens as I reported this morning by the series France 24, In Paris They are not looking favorably at the potential deal.
In fact, two French government ministers have declared their opposition to the Canadian group Couche-Tard’s acquisition of the country’s largest supermarket chain, Carrefour. On Wednesday, as news of a possible merger came in, Carrefour’s shares rose 14%. This morning, knowing the opinion of two French government ministers, the newspapers were down 5% at the start of the wheel.
The two companies announced that they were in initial talks on a deal earlier this week. French Minister of Finance, Bruno mayorTakeover was an issue, he said ‘Food sovereignty’. His ministry will need to agree to any deal affecting the food distribution sector. “Carrefour is a very strong company and I totally trust Carrefour to improve its model and develop a new distribution model, but Carrefour is being bought by a foreign company. It will be difficult for all of usLe Maire said in an interview at the next Reuters conference on Thursday.
A local in Couche-Tard, Quebec
The French government says it opposes the proposed acquisition of 16.2 billion euros ($ 19.6 billion) of the French supermarket chain Carrefour by Canadian supermarket group Couche-Tard.
For her part, the Minister of Labor said, Elizabeth BourneThis morning on Radio Europe 1, he said that “Opposes takeover”.
“I am not in favor of such an agreement,” Le Maire said on France 5 TV on Wednesday. “I am in favor of not challenging the current institutional structure of Carrefour and allowing the company to pursue its strategy, and therefore (I) against the acquisition,” Burney told Europe 1 radio.
Carrefour is The largest retailer in Europe And the largest private business owner in France, by more than 105,000 employees in the state.
Under the French rules on controlling foreign investment, government approval is required in some Le Maire said the strategic sectors include food retailing.
Carrefour said in a statement on Wednesday that the Alimentation Couche-Tard Group had contacted him about a proposed alliance and that the talks were at an early stage.
Couche-Tard also confirmed that it had suggested A. ‘Friendly combination’ Initially, at 20 euros a share, he stressed, “There is no certainty at this stage that these discussions will lead to any agreement or deal.”
In a surprising move, Quebec-based Couche-Tard said on Wednesday it had made a non-binding bid of 20 euros a share to the French grocery group, mostly in cash, valuing the French company at 16.2 billion euros (19720 millions of dollars).