On Thursday, the French competition authority approved the takeover of 61 Casino stores by Intermarché, while requiring the sale of three of them.

The operation, announced last year, was already completed in September, Intermarché having obtained a dispensation to launch the transaction without waiting for the opinion of the Autorité de la concurrence.

At the end of its examination, the authority concluded that the transaction did not present any competition problems on the procurement market. On the other hand, it noted risks of harm to competition to the detriment of local consumers in three areas: Lons-le-Saunier (39), Plouaret (22) and Vals-près-le-Puy (43).

"After careful examination of the takeover operation, the Authority has authorized the takeover of the target stores subject to commitments submitted by Intermarché, including the disposal of three stores", it concluded, adding that Intermarché had undertaken to dispose of the stores in question.

Casino and Intermarché, owned by the Groupement Les Mousquetaires, are also in exclusive negotiations for the takeover of almost all the hypermarkets and supermarkets of the Saint-Etienne-based group, which is in serious financial difficulties.

This project, which also includes Auchan, is conditional on the restructuring of Casino's debt, currently under safeguard procedure.

A general meeting of Casino shareholders is being held this Thursday to approve the financial restructuring project, which provides for the group to be taken over by a new management team led by Czech businessman Daniel Kretinsky.

(Written by Nicolas Delame and Tangi Salaün, edited by Blandine Hénault and Sophie Louet)