(Boursier.com) – The planned merger Auchan-U System advance. According to the information of ‘Figaro’, it was submitted to the European Commission on March 10 and will be transmitted shortly to the Competition Authority. For numbers five and six of the distribution in France, this project goes “far beyond the cooperation in the purchase and exchange of project signs mentioned end January.” Thus, “if it can not be considered as a merger, although it would materialize with the creation of two French distribution number, just behind Carrefour and Leclerc in front,” understands the daily.
merger will create a shared governance entity. “If we focus our hypermarkets and our supermarkets, it is essential to create a joint venture or strategic alliance committee to organize joint governance,” said Serge Papin President of Système U. Both plan a committee of four representatives of each group.
Rationalization
While synergies in the organization of networks had been raised in February, these could be streamlined. The 70 Hyper U pass under Auchan pavilion and 247 Simply Market of Yankee Group become franchises under the brand Super U. Finally, the two groups would create a central common purchase, thus going beyond the approximation made in September to manage their procurement operations of major international and national brands. The plant “will be intended to buy everything for the two groups,” said Serge Papin in ‘Figaro’, which refers to the amount of total activity of 50 billion euros.
Brussels Aval necessary
The project must still get approval from Brussels, but also in France of the Competition Authority. However, the latter was concerned early April of recent agreements between just the major players in the retail sector, on the approximation of their central purchasing. The regulator rapellait the three cooperation agreements (Système U / Auchan, ITM / Casino, Carrefour / Cora) were concluded in a particular context of price war exerting pressure on the margins of the operators, but can also harm the competition …
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