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Carrefour Announces Sale Of Controlling Stake In Its Activities In China To Suning.Com


Sunday, 23 Jun 2019 05:10am EDT 

June 23 (Reuters) - Carrefour ::ANNOUNCES THE SALE OF A CONTROLLING STAKE IN ITS ACTIVITIES IN CHINA TO CHINESE GROUP SUNING.COM.TRANSACTION, WHICH WILL BE PAID IN CASH, VALUES CARREFOUR CHINA AT AN ENTERPRISE VALUE OF EUR 1.4 BILLION.CARREFOUR GROUP WILL RETAIN A 20% STAKE IN BUSINESS AND TWO SEATS OUT OF SEVEN ON CARREFOUR CHINA'S SUPERVISORY BOARD.SELL AN 80% EQUITY INTEREST IN CARREFOUR CHINA TO CHINESE GROUP SUNING.COM.CLOSING OF TRANSACTION IS EXPECTED BY END OF 2019.CO WILL RETAIN A 20% STAKE IN BUSINESS AND TWO SEATS OUT OF SEVEN ON CARREFOUR CHINA'S SUPERVISORY BOARD.