French retailer Groupe Bourbon has said it will not exercise an option this year that would have required compatriot supermarket operator Casino to pay €189m (US$232.7m) to raise its stake in a joint venture between the two companies.

Bourbon said it has options to sell its 66.66% stake in supermarket retailer Vindemia to Casino in two stages, reported Dow Jones International News.

Instead of exercising its first option to sell a portion of Vindemia to Casino, which already owns 33.34% of venture, Bourbon said it would “continue benefiting from the positive effects of Vindemia’s gradual integration into Casino’s central purchasing system.”

Vindemia operates on Indian Ocean islands such as La Reunion and Mauritius.