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Carrefour SA Reorganizes Its Partnership with Sabanci Holding by Transforming the Governance of Their CarrefourSA Joint Venture in Turkey

Tuesday, 30 Apr 2013 11:40am EDT 

Carrefour SA announced that after 17 years of partnership, Carrefour Group and Sabanci Holding have decided to reorganize the governance of their joint venture, CarrefourSA. Sabanci Holding will become the majority shareholder by acquiring an additional 12% of the capital of CarrefourSA from Carrefour Group for a total consideration of TL 141 million (EUR 60 million). Carrefour will retain a stake of 46.2%. Sabanci Holding will own 50.8% of CarrefourSA. The transaction is expected to be completed by July 2013 

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-0.325 -1.15%
11:35am EST