Linklaters Advises Intermarché on Merger Controls

In a strategic move set to reshape the French retail landscape, Groupement Les Mousquetaires, in collaboration with Auchan Retail, is on the verge of acquiring 313 hypermarkets and supermarkets from Groupe Casino, one of France’s leading retail conglomerates.

The Linklaters legal team, spearheaded by Anne Wachsmann, Partner in Antitrust and Foreign Investment, is at the forefront of advising on this significant transaction.

The exclusive negotiations, initiated on December 18, 2023, bring together Groupement Les Mousquetaires, Auchan Retail, and Groupe Casino, outlining the proposed sale of Groupe Casino’s points of sale to the former two entities. The fixed enterprise value for this acquisition is marked at EUR 1.35 billion (excluding property), with the targeted points of sale representing an estimated turnover of approximately EUR 3.6 billion, excluding VAT and petrol.

This landmark deal follows the initial acquisition of a group of Groupe Casino points of sale by Groupement Les Mousquetaires at the close of September 2023. The proposed acquisition of 313 hypermarkets and supermarkets further underscores the ambitious growth strategy of Groupement Les Mousquetaires within the French retail sector.

Anne Wachsmann, leading the Linklaters team in Paris, has played a pivotal role in navigating the legal intricacies of the acquisition. Alongside Wachsmann, counsel Nicolas Zacharie, specializing in Antitrust and Foreign Investment, has been instrumental in ensuring compliance and regulatory adherence throughout the negotiation process.

The Linklaters team also includes key members Daniel Green, Charles Petit, Victoria Vickers, and Clémence Flichy, all contributing their expertise in Antitrust and Foreign Investment. Their collective efforts have paved the way for what promises to be a transformative deal within the competitive retail market.

The proposed acquisition not only marks a significant expansion for Groupement Les Mousquetaires but also signals a strategic move by Auchan Retail and Groupe Casino to realign their portfolios in the dynamic retail landscape.

Source: Legal Desire