Canadian Couche-Tard negotiates purchase of Carrefour for €16.145M

Canadian Couche-Tard negotiates purchase of Carrefour for €16.145M

Carrefour’s stock market value is currently 14 billion euro, less than half the value of the Canadian company which was estimated at around 30 billion euro.

Both companies confirmed the opening of «exploratory talks» concerning a possible «friendly» agreement.

«Carrefour was approached, in a friendly way, by Alimentation Couche-Tard, concerning a merger project. Discussions are still at very early stages», pointed out the French company.

Couche-Tard (owner of brands such as Circle K u On the Run), highlighted the «friendly» character of the potential transaction, whose terms were not yet discussed, adding that, at this stage of exploratory talks between the two companies, there are no certainties as to whether it will end in any type of agreement.

Carrefour’s acquisition would boost the Canadian group’s presence in Europe and Latin America, besides increasing the diversification of its convenience stores business with the incorporation of large establishments.

Carrefour has a network of 12.300 stores and around 320.000 workers in more than 30 countries. Spain is one of the French group’s main markets, with 205 hypermarkets, 112 supermarkets Carrefour Market, 820 convenience stores Carrefour Express and 143 service stations.

The Canadian company, which has more than 14.200 stores spread across the world, is present mainly in Canada and the United States, but it also has an important activity in other continents. In Europe it is particularly strong in the Scandinavian countries (Norway, Sweden and Denmark), Baltic countries (Estonia, Latvia and Lithuania), as well as in Ireland and Poland.

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