A PYMNTS Company

France: Watchdog clears supermarket buyout after major Parisian divesture

By  |  July 10, 2013
France: Watchdog clears supermarket buyout after major Parisian divesture

France’s antitrust regulator has cleared the proposed buyout of a chain of supermarkets by retailer Groupe Casino, so long as the group divests stores in Paris, according to reports. Groupe Casino will be required to sell 55 of about 500 locations in the capital, and three in the rest of the country, in order to buy Monoprix. The concessions were imposed after a probe into the deal, which lands another 50 percent of Monoprix in the hands of Groupe Casino. The shares were previously owned by Monoprix’s joint venture partner Galeries Lafayette. The regulator investigated the food retail market of France in 2012; that probe resulted in the findings that highlighted Groue Casino’s significant control of the market especially in Paris, where the company dominates more than three times the market share of its closest competitor, Carrefour.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Fresh Plaza

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.