Carrefour: approval for sale of 80% stake in Carrefour China
(CercleFinance.com) - Carrefour announces that on Monday, the Chinese State Administration for market regulation authorised Suning.
com to buy an 80% stake in Carrefour China, which is set to be finalised by the end of September.
As a reminder, the French retail giant announced this cash transaction at the end of June, which valued Carrefour China based on an enterprise value of 1.4 billion euros. Carrefour will retain a 20% stake in the new group.
Present in the country since 1995, Carrefour China operates a network of 210 hypermarkets and 24 convenience stores. In 2018, its sales reached 3.6 billion euros, while EBITDA came in at 66 million euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
com to buy an 80% stake in Carrefour China, which is set to be finalised by the end of September.
As a reminder, the French retail giant announced this cash transaction at the end of June, which valued Carrefour China based on an enterprise value of 1.4 billion euros. Carrefour will retain a 20% stake in the new group.
Present in the country since 1995, Carrefour China operates a network of 210 hypermarkets and 24 convenience stores. In 2018, its sales reached 3.6 billion euros, while EBITDA came in at 66 million euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.