{"id":104558,"date":"2021-01-16T21:33:14","date_gmt":"2021-01-16T21:33:14","guid":{"rendered":"https:\/\/fin2me.com\/?p=104558"},"modified":"2021-01-16T21:33:14","modified_gmt":"2021-01-16T21:33:14","slug":"canadas-couche-tard-to-explore-partnership-opportunities-with-carrefour-after-takeover-plan-fails","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/canadas-couche-tard-to-explore-partnership-opportunities-with-carrefour-after-takeover-plan-fails\/","title":{"rendered":"Canada's Couche-Tard to explore partnership opportunities with Carrefour, after takeover plan fails"},"content":{"rendered":"
Slideshow ( 2 images )<\/span><\/figcaption>

(Reuters) – Canada\u2019s Alimentation Couche-Tard and European retailer Carrefour SA have decided to work on partnership opportunities after takeover talks failed, the two companies said in a joint statement on Saturday.<\/p>\n

Couche-Tard dropped its 16.2 billion euro ($19.57 billion) bid for Carrefour after the French government opposed the deal, citing food security concerns.<\/p>\n

The decision to end merger talks came after a meeting on Friday between French Finance Minister Bruno Le Maire and Couche-Tard\u2019s founder and chairman, Alain Bouchard.<\/p>\n

\u201cFood security is strategic for our country so that\u2019s why we don\u2019t sell a big French retailer. My answer is extremely clear: We are not in favour of the deal. The no is polite but it\u2019s a clear and final no,\u201d Le Maire said.<\/p>\n

The Canadian firm had submitted a non-binding offer letter earlier this month to buy European retail giant at a price of 20 euros per share.<\/p>\n

The companies said they have decided to extend their discussions to examine opportunities for sharing practices on fuel purchases, partnering on private labels and distribution in overlapping networks.<\/p>\n

\u201cThe discussed areas for cooperation align with our five-year strategic plan, as well as our commitment to strengthening our core convenience and fuel business and pursuing opportunities in multiple,related growth platforms,\u201d Couche-Tard Chief Executive Brian Hannasch said.<\/p>\n

BFM TV reported earlier on Saturday that the companies working on the basis of \u201cindustrial cooperations\u201d might enable them to bypass a French government veto that ended the deal.<\/p>\n

($1 = 0.8280 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Slideshow ( 2 images )(Reuters) – Canada\u2019s Alimentation Couche-Tard and European retailer Carrefour SA have decided to work on partnership opportunities after takeover talks failed, […]<\/p>\n","protected":false},"author":3,"featured_media":104557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCanada's Couche-Tard to explore partnership opportunities with Carrefour, after takeover plan fails - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/canadas-couche-tard-to-explore-partnership-opportunities-with-carrefour-after-takeover-plan-fails\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada's Couche-Tard to explore partnership opportunities with Carrefour, after takeover plan fails - 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