Convenience store giant Alimentation Couche-Tard is confirming its interest in acquiring France-based grocery chain Carrefour SA.
Couche-Tard says terms of a deal are still subject to negotiation and there is no certainty that exploratory talks will result in a transaction.
Founded more than 60 years ago, Carrefour operates nearly 13,000 hypermarkets, supermarkets and convenience stores in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina and Taiwan.
The company cut its dividend by half last year as the COVID-19 pandemic began to expand.
Couche-Tard operates convenience stores mostly under the Circle K brand in Canada, the United States and Europe. It recently took steps to expand into Asia.