Carrefour ends its merger with Auchan -Le Figaro
PARIS, October 9 (Reuters) – Carrefour (CARR.PA) has decided to no longer be interested in a possible merger with Auchan after exploratory talks between the two French brands in recent months, Le Figaro daily reported on Saturday.
The decision was taken Thursday by Carrefour’s strategic committee on the recommendation of CEO Alexandre Bompard who considered a possible agreement with Auchan too complex, Le Figaro said.
Carrefour and Auchan could not be reached immediately for comment.
Le Monde, another French daily, reported at the end of September that Bompard was studying options for consolidating the sector and that his group had met with the Mulliez family, which controls Auchan. Read more
Carrefour said in June that it had started to consider possible consolidation, divestitures or mergers of its foreign subsidiaries, but had made no decision to sell any assets.
In January, Canadian company Alimentation Couche-Tard (ATDb.TO) dropped its € 16.2 billion ($ 19.57 billion) offer for Carrefour after the French government opposed the deal. , citing food security concerns. Read more
Reporting by Gus Trompiz and Laetitia Volga, editing by William Maclean
Our Standards: Thomson Reuters Trust Principles.