Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Economy

Canada’s Couche-Tard in takeover talks with Carrefour of France

2 months ago
in Economy
2 min read
Canada’s Couche-Tard in takeover talks with Carrefour of France
Share on FacebookShare on Twitter


Canadian convenience store group Alimentation Couche-Tard has approached France’s Carrefour about a takeover in a deal that would combine two retail groups jointly worth more than $50bn.

The talks were at an early stage, the companies said on Tuesday night in separate statements. Couche-Tard had made the approach fairly recently, said one person briefed about the matter, while a second said Carrefour needed time to study the idea.

If completed the deal would push Couche-Tard further into Europe and Latin America, and diversify its convenience store business by adding Carrefour’s portfolio of large-format supermarkets in suburban areas, as well as smaller urban stores. 

The Canadian group, which has a market value of $37bn, has long grown through acquisitions and was among the bidders last year for Speedway, the petrol station group owned by Marathon Petroleum that was eventually acquired by Japanese rival Seven & i Holdings for $21bn. 

In 2019, it sought to buy Caltex Australia in a $5.8bn deal that would have seen the company gain a foothold in a third continent but Couche-Tard walked away last April as the coronavirus pandemic took hold. 

Couche-Tard, based in suburban Montreal, has a network of more than 9,200 convenience stores across North America through several brands, including Circle K, employing about 109,000 people. The group has a smaller presence in Europe, where it has fewer than 3,000 stores in its network. In addition to convenience stores, it also owns petrol stations often located on site.

Carrefour is France’s largest supermarket chain with some 2,000 supermarkets and more than 700 large-format hypermarkets in Europe; it also has a presence in Brazil and Argentina. Alexandre Bompard, chief executive, has been on a cost-cutting drive in recent years, allowing him to make significant investments in developing ecommerce, which has boomed during the pandemic. It has a market value of €12.5bn and net debt of €15.8bn. 

The deal would see Couche-Tard follow a similar path to that taken by the owners of the highly acquisitive UK petrol stations business EG Group. They last year agreed a £6.8bn deal to buy the British supermarket chain Asda from Walmart in a deal that will not merge the two businesses but could lead to Asda opening convenience stores at EG Group petrol station sites. 

Couche-Tard’s approach to Carrefour was first reported by Bloomberg News. 

Additional reporting by James Fontanella-Khan and Arash Massoudi



Go to the news source: Canada’s Couche-Tard in takeover talks with Carrefour of France

Tags: CanadasCarrefourCoucheTardFrancetakeovertalks
Previous Post

Dollar, GBP/USD, AUD/USD, Gold & Bitcoin

Next Post

Q&A With Lacy Hunt on Money Supply

Related Posts

Sushil Pandit Speaks To Republic On His Assassination Plot – Republic World
Economy

Sushil Pandit Speaks To Republic On His Assassination Plot – Republic World

by Forex News
February 28, 2021
0

Sushil Pandit Speaks To Republic On His Assassination Plot Republic World Go to the news source: Sushil Pandit...

Read more
China’s coal share of energy consumption falls in 2020 but overall coal use up -…
Economy

China’s coal share of energy consumption falls in 2020 but overall coal use up -…

by Forex News
February 28, 2021
0

China’s coal share of energy consumption falls in 2020 but overall coal use up South China Morning PostChina Chips...

Read more
Corporate Japan ditches coal abroad as global backlash grows
Economy

Corporate Japan ditches coal abroad as global backlash grows

by Forex News
February 28, 2021
0

TOKYO/JAKARTA -- Japanese companies have begun stepping away from coal-fired power plant projects as the practice of exporting carbon-spewing technologies comes...

Read more
The case for stimulus: Why more economic relief is needed to help with joblessne…
Economy

The case for stimulus: Why more economic relief is needed to help with joblessne…

by Forex News
February 28, 2021
0

The case for stimulus: Why more economic relief is needed to help with joblessness and the recovery Yahoo Finance...

Read more
One low-wage job has became harder to fill during the pandemic, despite the nati…
Economy

One low-wage job has became harder to fill during the pandemic, despite the nati…

by Forex News
February 27, 2021
0

Then, a few lines later: “Up to $600 sign on bonus. Plus, up to $6,000/year in educational and financial...

Read more
Live Foreign Currency Exchange Rates
Economy

The ‘jobdobber’ hotline is another policy aimed at keeping wages low | Wages gro…

by Forex News
February 27, 2021
0

This week came further confirmation that even in the midst of a wages crisis, the Morrison government remains determined...

Read more
Economy booming, people suffering as Congress debates
Economy

Economy booming, people suffering as Congress debates

by Forex News
February 27, 2021
0

I'm USA TODAY editor-in-chief Nicole Carroll, and this is The Backstory, insights into our biggest stories of the week. If...

Read more
The GOP’s anti-stimulus rallying cry: What happened to the unspent $1 trillion?
Economy

The GOP’s anti-stimulus rallying cry: What happened to the unspent $1 trillion?

by Forex News
February 27, 2021
0

GOP lawmakers are seeking to stoke public concern over the extraordinary levels of federal support: $4 trillion in aid...

Read more
Who qualifies for a $1,400 stimulus payment under the House bill
Economy

Who qualifies for a $1,400 stimulus payment under the House bill

by Forex News
February 27, 2021
0

House Democrats passed the $1.9 trillion American Rescue Plan early Saturday morning, which includes a provision for a third...

Read more
Third stimulus check: How soon might you receive a $1,400 check?
Economy

Third stimulus check: How soon might you receive a $1,400 check?

by Forex News
February 27, 2021
0

President Joe Biden's $1.9 trillion coronavirus relief plan is moving forward, raising hopes of another round of stimulus checks for most...

Read more
Next Post
Q&A With Lacy Hunt on Money Supply

Q&A With Lacy Hunt on Money Supply

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Aussie Rallies After Employment Data, Fails to Gain on Pound — Forex News

Aussie Rallies After Employment Data, Fails to Gain on Pound — Forex News

1 week ago
Trade wars, tariffs and tax breaks

Trade wars, tariffs and tax breaks

1 month ago
How Carl Icahn could create value with this health company, which has many valua…

How Carl Icahn could create value with this health company, which has many valua…

1 week ago
Dollar eases but euro zone stimulus uncertainty keeps euro in check

Dollar eases but euro zone stimulus uncertainty keeps euro in check

3 months ago

Today Market News

Sushil Pandit Speaks To Republic On His Assassination Plot – Republic World
Economy

Sushil Pandit Speaks To Republic On His Assassination Plot – Republic World

February 28, 2021
Dozens of Hong Kong pro-democracy activists arrested under national security law
World

Dozens of Hong Kong pro-democracy activists arrested under national security law

February 28, 2021
China’s coal share of energy consumption falls in 2020 but overall coal use up -…
Economy

China’s coal share of energy consumption falls in 2020 but overall coal use up -…

February 28, 2021
GBI: Knife-wielding man shot by off-duty trooper outside Atlanta gas station – A…
Politics

GBI: Knife-wielding man shot by off-duty trooper outside Atlanta gas station – A…

February 28, 2021
Nine of top 10 firms lose nearly ₹2.2 lakh crore in market valuation
Stock

Nine of top 10 firms lose nearly ₹2.2 lakh crore in market valuation

February 28, 2021
Joe Biden’s energy sec. Jennifer Granholm floats idea of Texas joining national …
Energy

Joe Biden’s energy sec. Jennifer Granholm floats idea of Texas joining national …

February 28, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz