Carrefour: divests 80% of Carrefour China
(CercleFinance.com) - Carrefour announces the signing of a sale agreement for 80% of Carrefour China to the Chinese group Suning.
com, a sale in cash that values Carrefour China, based on an enterprise value of 1.4 billion euros.
Present in the country since 1995, Carrefour China operates a network of 210 hypermarkets and 24 convenience stores. In 2018, it generated sales of 3.6 billion euros, with an EBITDA of 66 million euros.
Carrefour retains 20% of the new group, as well as two out of seven seats on Carrefour China's supervisory board. Subject to regulatory approvals and other customary conditions, the transaction is set to be finalised by the end of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
com, a sale in cash that values Carrefour China, based on an enterprise value of 1.4 billion euros.
Present in the country since 1995, Carrefour China operates a network of 210 hypermarkets and 24 convenience stores. In 2018, it generated sales of 3.6 billion euros, with an EBITDA of 66 million euros.
Carrefour retains 20% of the new group, as well as two out of seven seats on Carrefour China's supervisory board. Subject to regulatory approvals and other customary conditions, the transaction is set to be finalised by the end of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.