Refile: InVivo seeks longer-term control in Casino-Teract retail tie-up

Teract SA

10/03/2023 15:45

(Refiles to remove extraneous word in second paragraph)
       PARIS, March 10 (Reuters) - Agribusiness cooperative
InVivo wants to have the possibility in the medium term to take
control of a French retail grouping being negotiated between
Casino  CASP.PA  and Teract  TRACT.PA , InVivo Chief Executive
Thierry Blandinieres said on Friday.
    Debt-laden supermarket chain Casino and smaller food
retailer Teract, which is majority owned by InVivo, have entered
exclusive talks aimed at creating a retail network controlled by
Casino and a food business controlled by InVivo.
    "We're taking a minority stake but we could become the
majority owner in future," Blandinieres said of the potential
retail tie-up between Casino and Teract.
    "It would be a potential option in a three to five year
timeline," he told Reuters.
        Asked if having a possibility to obtain a majority stake
was a condition for InVivo in reaching an agreement with Casino,
he said: "yes".
    

 (Reporting by Gus Trompiz and Sybille de La Hamaide, Editing by
Louise Heavens)
 ((gus.trompiz@thomsonreuters.com; +33 1 49 49 52 18; Reuters
Messaging: gus.trompiz.thomsonreuters.com@reuters.net))