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France: Authorities press pause on mega retail buyout

By  |  March 14, 2013

France’s Competition Authority has announced a formal, in-depth probe into Casino’s acquisition of retail chain Monoprix over competition concerns. The more-than $1.5 billion deal would land the nation’s 400 Monoprix outlets in Casino’s hands; the Commission has stated that its main concerns lay in areas where Monoprix and Monop labels overlap with Casino’s, especially in Paris. Casino announced last year it would purchase the outlets from Galeries Lafayette, with which it was involved in a joint venture until Casino bought the other half of the company it did not already own.

 

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