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French rival exploring new bid for Carrefour

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Shopping carts at a Carrefour supermarket in Paris, France. Photo: Nathan Laine/Bloomberg

Shopping carts at a Carrefour supermarket in Paris, France. Photo: Nathan Laine/Bloomberg

Shopping carts at a Carrefour supermarket in Paris, France. Photo: Nathan Laine/Bloomberg

French grocer Auchan is exploring a fresh attempt at a takeover of domestic rival Carrefour .

Auchan has revived work on a potential deal for Carrefour after earlier negotiations collapsed in the autumn, people with knowledge of the plans  said. It has held talks with private equity firms including CVC Capital Partners about teaming up on a bid, according to the people.

Shares of Carrefour rose for the eighth straight day yesterday, the longest streak in four years. They gained as much as 6.6pc in Paris and were up 3.5pc at 5:16 p.m. in the French capital, giving the company a market value of about €13.4bn.

A combination with Carrefour would help Auchan’s founding Mulliez family create the biggest grocer in France and strengthen its position amid challenges from low-priced German rivals. Any deal would need the backing of Carrefour’s anchor shareholders, the Moulin family and Brazilian retail tycoon Abilio Diniz.

Representatives for Auchan, Carrefour and CVC declined to comment. 

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