Carrefour Sells Its Business in Colombia to the Chilean Group Cencosudfor an Enterprise Value of € 2 Billion
Carrefour Sells Its Business in Colombia to the Chilean Group Cencosud for an Enterprise Value of € 2 Billion
Carrefour (Paris:CA) announces the signing of an agreement with the Chilean group Cencosud for the sale of its operations in Colombia for an enterprise value of € 2.0 billion.
This transaction is in line with Carrefour’s new strategy of focusing on geographies and countries in which it holds or aims to develop a leading position.
Present in Colombia since 1998, Carrefour operates 72 hypermarkets, 16 convenience stores and 4 cash and carry stores in the country, representing net sales excluding petrol of € 1.5 billion (over a 12-month period to June 30, 2012).
Carrefour expresses on this occasion its great confidence in Cencosud, which is a leading player in South America and with whom Carrefour shares the same values.
Cencosud is a leading retailer in Latin America, with operations in Chile, Brazil, Peru, Argentina as well as Colombia since 2007. Cencosud has built a strong position in food retail, but also in DIY, department stores, shopping malls and financial services.
The transaction should be effective by the end of 2012.
About the Carrefour Group
The Carrefour Group is the largest retailer in Europe, and the second largest worldwide, with more than 9,900 stores under banner in 30 countries and 412,000 employees. For over fifty years, Carrefour has been a partner in the day-to-day lives of more than 25 million customers in Europe, Asia and Latin America.The Group combines different store formats - hypermarkets, supermarkets, convenience stores and cash & carry outlets - constantly adapting to its customers’ consumption patterns, and offering the lowest prices on a large range of products and services. With more than 3 billion cash transactions per year, the Group, through its activities, has an economic, social and environmental responsibility and is committed to the quality of its products and the safety of its customers.
Cencosud S.A. is one of the leading retailers in Latin America, with a presence in Argentina, Brazil, Chile, Colombia and Peru. Excluding the present transaction, it owns 684 supermarkets, 81 home improvement and DIY stores, 25 shopping centers and 35 department stores under the Paris banner, providing direct employment to more than 140,000 people.
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