Casino to take Brazilian partner to court

Brazil

Tuesday 07 June 2011

Casino wants to prevent its Brazilian partner merging with Carrefour’s Brazilian business.

Casino is taking a dispute with the Diniz group, the co-shareholder of its subsidiary in Brazil, to court.

Casino has asked the Diniz family, which controls CBD, to respect and to comply with an existing partnership between CBD and Casino.

Abilio Diniz, the head of the Diniz family group, is in discussions with Casino's French rival Carrefour SA over a possible merger between CBD and Carrefour's Brazilian unit. Diniz's move has angered its longtime partner, Casino. Under the existing partnership, Casino could exercise options giving it control over CBD next year.

Brazil is a key market for Casino as it strives for international growth.

source: lefigaro, challenges, les echos