In this way, negotiations between Carrefour and PAI Partners, the main shareholder of the UVESCO group, to take over the BM supermarket are broken.
Uvesco, the food distribution group that owns the commercial brands BM Supermercados and Súper Amara, has halted the sale to Carrefour that had been negotiated in recent months.
In this way, negotiations between Carrefour and PAI Partners, the main shareholder of the UVESCO group, to take over the BM supermarket are broken. That is why BM remains owned by Carrefour.
It remains to be seen whether the group of Basque shareholders who wanted to regain BM’s roots will eventually acquire PAI Partners’ shares.
Carrefour had offered 800 million to take control of the company and was in talks with its main stock, the French investment fund PAI Partners, but in the end no agreement was reached.
Uvesco operates under two brands: BM Supermercados (249 stores) and Super Amara (8 stores). The other 20 stores are franchises that operate under the BM Shop brand.
Controversy
This operation caused many doubts among institutions such as the Basque government, the Provincial Council of Gipuzkoa or associations of local residents, who feared that the roots of the distributor and its good relationship with local producers would be lost.
The commotion was such that until another alternative was launched, by the minority shareholders, looking for a Basque buyer. The Basque government has shown its willingness to also participate in this alternative.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
