FRANCE: Guyenne et Gascogne shares suspended ahead of Carrefour announcement
Carrefour is in talks with its main franchise operator over a "business combination"
On Thursday (8 December) Carrefour and Guyenne et Gascogne, a key franchise partner, announced they were in talks about a "business combination", but refused to comment further. Industry watchers say Carrefour is looking to acquire a partial or full stake in the smaller firm.
A spokeswoman from Guyenne at Gascogne said a statement will be released this afternoon but would not elaborate on the content. A spokesman from Carrefour did not comment on the announcement.
The two companies own a joint venture, Sogara, which operates 13 Carrefour hypermarkets in south-west France. Sogara also owns 8.2% of Centros Commerciales Carrefour, which operates Carrefour stores in Spain. Guyenne et Gascogne itself also operates six Carrefour hypermarkets and 27 Carrefour Market supermarkets in France.
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