Carrefour considering sale of China, Taiwan businesses: report
(Reuters) - Carrefour SA (CARR.PA) the world's second largest retailer, is exploring a sale of its businesses in China and Taiwan, including a possible initial public offering in Hong Kong or a combination of some of those assets with another company, The Wall Street Journal reported on Monday, citing people familiar with the matter.
An IPO route could represent around $1 billion in funds, the Journal said, citing a source, adding that Carrefour's plans were still at a preliminary stage. (r.reuters.com/mug29t)
Carrefour has not hired bankers yet, The Wall Street Journal said, citing sources.
Carrefour declined to comment on the report.
The French group, which is Europe's largest retailer, has been struggling for years in Europe, partly due to a reliance on hypermarkets, which have been losing out as time-pressed shoppers buy more goods locally and online and prefer to buy general merchandise from specialists.
Carrefour has been exiting non-strategic markets to raise cash and to cut its debt. However, investors are concerned that the company is retreating from too many high-growth markets.
(Reporting by Karen Rebelo and Abhirup Roy in Bangalore; Additional reporting by Dominique Vidalon in Paris; Editing by Leslie Adler)
(This story is refiled to correct Reuters Instrument Code in first paragraph to (CARR.PA) from (CARPD.PA))
NEW YORK, March 8 (Reuters-peHUB) - The auction of JP Morgan Chase's private equity business, One Equity Partners, in the market since at least November, has hit an impasse, according to three people with knowledge of the situation.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.