X

Mortgage & Property

New Insurance Professional

Family Office Bulletin

Mortgage Property

Insurance Professional

Family Office

Couche-Tard ends talks on Carrefour bid after French govt opposition

(Sharecast News) – Canadian convenience store chain Alimentation Couche-Tard pulled out of 16.2bn takeover talks with Carrefour after the French government said it was against the deal on food security grounds.
The two companies on the weekend said in a joint statement that the talks “are no longer continuing”, despite a meeting between Couche-Tard co-founder and chairman Alain Bouchard and French Finance Minister Bruno Le Maire on Friday.

Bouchard had promised 3bn in investment and no job cuts, all of which was rejected by Le Maire, who had opposed the deal, citing a threat to France’s “food sovereignty”.

“Carrefour and Couche-Tard, however, have decided to extend their discussions to examine opportunities for operational partnerships,” the two firms said.

“Among the preliminary areas of cooperation to be explored are sharing best practices on fuel, pooling purchasing volumes, partnering on private labels, improving the customer journey through innovation, and evaluating ways of optimizing product distribution in the overlapping networks.”

This Week’s Most Read

  • Sir Keir Starmer in pub brawl?

    Predictions of scuffles in pubs came true today, with a landlord being ejected from his own pub by interlopers. Sir Keir Starmer had been listening

  • Class of 2021 retirees at risk of running pension pots dry

    Two thirds (66%) of 2021 retirees risk not having the pension savings to sustain their planned retirement income, according to a new report launched today

  • Sir Keir Starmer, pubs and COVID – taking the piss, not taking a piss..

    We thought you weren’t allowed into pubs these days? Incredible scenes erupted today outside the Raven Pub in Bath, as Sir Keir Starmer was confronted

  • New financial advice service from Vanguard aimed at retirement savers

    Designed for investors saving for retirement, Vanguard Personal Financial Planning launches on the award-winning Vanguard UK Personal Investor platform – vanguardinvestor.co.uk/financial-advice. The service offers personalised

  • The Coming Decade for Climate Solutions

    Randeep Somel, Fund Manager, M&G Climate Solutions Fund, is finding reasons to be cheerful as he uncovers some of the powerful drivers of change which

  • Deepbridge achieves record EIS fundraising levels

      Record £29 million deployed across 37 growth companies Deepbridge attributes success to intermediary relationships and sector focus Venture capital investment manager Deepbridge Capital today

  • Using “the family approach” to encourage timely estate planning

    An unprecedented number of clients have delayed financial decisions because of the pandemic. But an indirect approach can help turn hesitation into urgency. Nick Bird,

  • A Positive Charge

    Ben Constable-Maxwell, Head of Impact Investing at M&G Investments, is one of the driving forces behind the move to integrate ESG, sustainability and impact investing

  • Advice firm highlights how growing reputation boosts referrals amid pandemic

    National financial advice firm, Tenet&You, which opened its new offices at Haddington in December last year, has reported an increase in new business since the

  • The Superbia Group commits to accountability and living its core values with the formation of a new independent ESG Advisory Board

    The Superbia Group has today signalled its intent to live its values by announcing the appointment of a new independent ESG Advisory Board. The new

IFA Magazine

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine