Canadian Alimentation Couche-Tard ended talks with French retailer Carrefour, withdrawing the merger offer.
The Canadian convenience store operator renounced the purchase – which was expected to be € 20 a share – after the French government said it was opposed to the deal.
The founder and executive president of Couche-Tard had already informed the French finance minister, Bruno Le Maire, that he would not launch the takeover bid, Le Monde said, citing a source familiar with the meeting between them on Friday. -market.
Today, Bloomberg and Reuters confirm that the Canadian has given up on the purchase.
Speaking to France 5 on Wednesday, Le Maire said the pandemic crisis demonstrated the importance of domestic control over the food supply chain. “From this point of view, I am not in favor of the idea of Carrefour being bought by a foreign rival,” he said.
Le Maire had also stressed that the foreign investment scrutiny rules passed during the pandemic allowed the government to block food distribution deals. “Food sovereignty comes before everything else,” he said.
Source: Jornal de Negócios by www.jornaldenegocios.pt.
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