Ottawa – dpa
Posted on: Thursday 14 January 2021 – 12:58 AM | Last update: Thursday, January 14, 2021 – 12:58 AM
Elementation added that the terms of the deal are still under discussion, but thinking is currently moving towards paying the bulk of its value in cash.
The Canadian company, which is based in Quebec, said there was no confirmation of the talks reaching a final agreement at the present time.
It is noteworthy that the share price of the Carrefour supermarket chain rose by 10% on the Paris Stock Exchange during the current year, bringing its market value to 12.6 billion euros (15.4 billion dollars) at the end of yesterday’s trading.
At the same time, the share of “Coach-Tard” company fell by 2.2% after Bloomberg reported on the expected deal, bringing its market value to 46 billion Canadian dollars (36 billion US dollars).
It is reported that Coach-Tard focuses on stores and gas stations, not supermarkets. It established its empire by systematically acquiring smaller competitors, first in Canada before entering the United States in 2001 and Europe in 2012.
Most recently, its focus has been on the US and Asia Pacific regions, where it tried to buy Caltex Australia, before backtracking on a new bid to buy it after the outbreak of the Coronavirus pandemic.
The Carrefour deal would expand the Canadian company’s presence in Europe, as the Carrefour chain includes more than 2,800 stores and 703 supermarkets, as well as French chain stores in Argentina and Brazil.