Worthy of an episode of a series with unexpected twists. Although the Casino distribution group is in the midst of a restructuring after catastrophic results, a negotiation phase has been opened with two large distributors: Teract, which brings together Gamm Vert, Jardiland and 190 agricultural cooperatives, as well as Intermarché.
If the details of this takeover operation have not yet been clarified, Casino had expressed this morning its desire to sell more stores than expected to the Les Mousquetaires group. But a new press release on Friday night confirms that Teract is still in the running and that “exclusive discussions begun on March 9 with the Casino group continue.”
Tripartite collaboration?
In its official press release, Teract specifies that the document previously published by the Les Mousquetaires group “reports the signing of a memorandum of intent between the Les Mousquetaires group and the Casino group, compatible with the discussions currently underway with Teract and demonstrates that the project industry is always at the center of discussions”. In other words, the ongoing negotiations would aim to “strengthen the collaboration between the three actors.”
Casino and Teract have “until the end of the current exclusivity period to conclude an agreement, based on an industrial project proposed jointly by Teract, the Les Mousquetaires group and the Casino group on April 24,” the press release highlights.
Source: BFM TV
