Coach-Dart abandoned Carrefour | Montreal Journal

Coach-Dart abandoned Carrefour |  Montreal Journal

Alain Bouchard, the founding president of the Quebec company, surrendered Friday evening.

Millionaire businessman Mr. He apparently went to Paris to meet Le Myre, but the discussions were fruitless. In the afternoon of Quebec time, Reuters revealed that the management of Koch-Dort had resigned to abandon its $ 25 billion plan, which was intended to avert an Atlantic political storm.

Mr. Prior to receiving the bouquet, Minister Le Myre further pushed his opposition to the proposed transaction. “My position is a respectable, but clear and firm one,” he said.

France-Quebec relations

For his part, his Quebec opponent, Pierre Fitzschipen, realized that the French government had the power to thwart Koch-Dort’s aspirations.

Koch-Dart’s disqualification is a blow to Franco-Quebec relations, especially since the Legalt government “facilitated” the acquisition of Bombardier’s two major divisions, the C Series, by Ambus and Allstom. Mr. As Fitzgerald recalled on Friday, Bombardier traffic.

The Quebec minister was hopeful that Alain Bouchard would succeed in “correcting” Bruno Le Meyer’s concerns about food security, which he considered “legitimate”, especially in the midst of an epidemic.

“Coming to the capital of Carrefour, Curry-Dort, should not affect food security. We are talking about supply, not production,” Mr Fitskiban said.

“Cooch-Dart is not taking it upon itself to send Quebec products to the Carrefour Ecosystem,” he said. It’s not about jobs. Jobs is not going to leave France and come to Montreal. “

Mr. Pierre Fitzgerald. Le Myre and Mr. Spoke with Chachard and Roland Lescour, the former senior executive of Guiz de Depட்t மற்றும், who is now a member of the ruling party in France.

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Wise Trudeau

It was not possible Friday to determine if Ottawa had contacted Elysee in the matter.

Only Prime Minister Justin Trudeau has said that “our role as government is to support Canadian businesses, including those seeking to expand globally.”

In the French press, on Friday we wondered about the signal sent to the international scene by Emmanuel Macron’s government rejecting the transaction between Cooch-Dart and Carrefour, which calls itself “probability”.

Mr. Fitzgerald acknowledged that Koch-Dart’s hostility to the unions in Canada would complicate matters in France, while promising the company a “good boss”.

Involvements

According to Echoes, Curi-Dart cited an investment of three billion euros (CA $ 4.6 billion) over five years to build Carrefour. According to Bloomberg, the company was prepared to guarantee the maintenance of work in France for two years, and then keeps Carrefour headquarters and its inventory in Paris.

Coach-Dart CEO Brian Hannach and Carrefour CEO Alexandre Bombard co-founded the company, Reuters reported.

A lawyer who took part in negotiations on the deal for Ottawa on Friday said that if Koch-Dart had not been torn to pieces, Canada could have received an aid under the Free Trade Agreement (CEDA) with Europe.

“Refusing to even consider any coach-dart request is a violation of both French law and the CEDA,” said Pierre-Oliver Savoy. Magazine.

Koch-Dort’s last major acquisition in 2017 was the American CST brands. Last year, Koch-Dart failed in its attempts to buy the Australian group Ambol (formerly Caltex), for which it provided nearly $ 8 billion, and the US chain Speedway swallowed up the Japanese company 7-Eleven for $ 21 billion.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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