The marriage between Casino and Teract will not take place. After several months of engagement to create a new player in distribution, exclusive negotiations ended on Thursday, without the two promised having reached any agreement. Teract, 76% controlled by the agricultural cooperative InVivo, aimed to combine its garden centres Gamm Vert, Jardiland and Delbard with the distribution activities of the Casino group in France (Monoprix, Franprix, Naturalia...). If he would have been content at first with a minority share of this whole, he dreamed above all of taking control of it in the long term. Teract's managers and shareholders were banking on the financial difficulties of Casino, indebted to the tune of 6.4 billion euros at the end of 2022, to force its CEO, Jean-Charles Naouri, to accept this change of control.
Unfortunately, things did not go at all as planned by Teract. The €1.1 billion capital increase proposal made by...
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