Retail groups Intermarché and Auchan are to buy 320 hypermarkets and supermarkets from Casino in a joint bid, Les Echos reported on Monday.

Their bid outstripped that of Lidl and Carrefour in the home stretch, adds the business daily.

Last month, Casino had indicated that it had received preliminary expressions of interest in acquiring stores in the hypermarket and supermarket perimeter, without however specifying the acquirers or the number of stores the company was considering selling.

In serious financial difficulties, Casino is currently undergoing a safeguard procedure in order to restructure its heavy debt.

The retail group is due to be taken over next year by a new management team led by Czech businessman Daniel Kretinsky.

The Casino share was suspended from trading on the Paris Bourse on Monday at the company's request, pending a press release. (Written by Blandine Hénault)