PARIS, June 8 (Reuters) – Agri-food cooperative InVivo, the majority shareholder of French retailer Teract, is dropping plans to invest in a possible tie up of Teract with the French retail business of debt-laden supermarket chain Casino, financial newsletter “La Lettre A” said on Thursday.
Casino, Teract and InVivo declined comment.
Teract has been in exclusive talks since March to combine with the French retail business of Casino.
The exclusivity period for the talks expires on June 8 and Teract has said it will issue a statement on Thursday evening. (Reporting by Dominique Vidalon; Editing by Benoit Van Overstraeten)