Canadian convenience-store operator Alimentation Couche-Tard announced on Tuesday, January 12, that it has initiated exploratory discussions with Europe’s biggest retailer, Carrefour, regarding a potential transaction, reported Reuters.
There is no certainty at this stage that these discussions will result in any agreement or transaction, Couche-Tard said in a statement.
As of Tuesday, Carrefour has a market capitalization of €12.64 billion (US$15.43 billion) and Couche-Tard’s market capitalization was US$37 billion.
Extended work-from-home policies and a resurgence in coronavirus cases in several countries have led shoppers to stock their pantries and avoid dining out or ordering in.
In a separate statement, Carrefour acknowledged Couche-Tard’s approach to discuss a combination.
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