By Adam Whittaker
France's competition regulator approved Carrefour's acquisition of the French operations of retailer Louis Delhaize.
The watchdog said Thursday that the approval is subject to Carrefour divesting seven stores to competitors, the termination of a franchise agreement and the sale of a shopping centre adjoining one of the stores which is to be divested.
In October 2023, the European Commission referred Carrefour's acquisition of Louis Delhaize's French operations--which included 186 stores and all of its property assets--to the regulator.
The French grocer was granted permission by the French competition authority to complete the transaction while its investigation was continuing.
The regulator cleared the acquisition Thursday after its investigation found it wouldn't harm competition in the supply of everyday consumer goods.
It did however identify eight local markets where the deal could pose competition risks and therefore placed divesture and termination requirements on Carrefour.
The watchdog said it will oversee the implementation of the commitments undertaken by Carrefour and said it will need to approve any proposed buyers of the assets.
The divestitures are intended to safeguard local competition and don't require the closure of stores, it said.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
March 13, 2025 08:49 ET (12:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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