French retailer Groupe Casino's SA (CO.FR) Wednesday said it finalized the acquisition of Monoprix after France's antitrust authority approved the group to take sole control of the supermarket chain.
- Further to the approval of the French competition authority to take exclusive control of Monoprix Group, Casino finalized the acquisition of the remaining 50% of Monoprix held by a subsidiary of Credit Agricole Corporate and Investment Bank through a temporary holding arrangement.
- The price of EUR1.18 billion was paid at the implementation of the temporary holding arrangement on April 5, 2013. Monoprix is consequently fully consolidated by Casino from the 2nd quarter.
- The competition authority earlier this month announced the approval of Casino's move to take sole control of Monoprix under the condition of selling more than 10% of its stores in Paris.
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