Bailiffs and IT experts are said to have raided Carrefour‘s headquarters on two occasions in search of documents establishing that it was in talks to merge its Brazilian unit with local retailer CBD.
The raids, which occurred at the start of the month, have been confirmed by Casino, Carrefour’s French rival and co-owner of CBD.
The moves came amid speculation that the other shareholder in CBD, the Diniz Group, was in talks with Carrefour. Reports claimed that the Diniz Group had contacted Carrefour to discuss a possible combination.
“It’s our understanding that out of a total of 150 documents seized during the raids, 22 refer to the opening of discussions between Carrefour and the Diniz Group – which would constitute a breach or non-respect of Casino’s own agreement with the Diniz Group,” a Casino spokesman told just-food today (20 June).
He declined to comment on whether the raids had been instigated as a direct result of a request from Casino or on the possible outcome of a judicial investigation.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData