French supermarket chain Casino has reached an agreement with its compatriot retailer Cora regarding the termination of their joint venture.

Casino, the number-two food retailer in France behind Carrefour, set up a purchasing joint venture, known as Opera with Cora. The two French businesses fell out with one another when Casino purchased a five-year option to acquire a stake in Cora. Cora claimed this purchase was an infringement of its partnership in Opera, which precluded either partner from taking a stake in one another. Casino said the two companies would revert to their independent purchasing systems by the end of September this year.

COPYRIGHT 2002 Agra Europe Ltd.
COPYRIGHT 2002 Gale Group