Carrefour sells to Tesco its operations in Czech Republic & Slovakia
01 Oct '05
2 min read
2nd largest worldwide retailer Carrefour announces that it has entered into an agreement with Tesco whereby:
• PresiCarre, the Joint-Venture between Carrefour Group and President in Taiwan, acquires Tesco Taiwan for € 132m. Tesco's operations in Taiwan include 6 hypermarkets and 2 projects. The 2 projects will be opened in 2006.
• Carrefour sells to Tesco its operations in the Czech Republic and Slovakia for € 189.4m. Carrefour currently operates 11 hypermarkets in the Czech Republic and 4 hypermarkets in Slovakia.
With this acquisition Carrefour strengthens its position in Taiwan where it will operate in 2006 over 40 hypermarkets. Completion of this transaction is subject to approvals by the appropriate regulatory authorities, including competition.
Since the beginning of the year, Carrefour has divested its business in Mexico and entered into a franchise agreement with Aeon in Japan. At the same time, it has also concluded the acquisition of 12 hypermarkets in Poland from Ahold, signed an agreement with Aligros in Italy and signed agreements to buy Gima and Endi in Turkey and Chris Cash & Carry in Cyprus.
Carrefour has also acquired 10 hypermarkets in Brazil in the Sao Paulo area and recently announced jointly the acquisition of Penny France from Rewe and the divestment of Prodirest to Transgourmet.
European first retailer Carrefour is engage into operation 11000 stores in 31 countries.
Carrefour is rapidly expanding three of its business lines abroad: hypermarkets, supermarkets and hard discount stores. Its strategy consists of building group market share in each country in which it does business by expanding the type of retailing best suited to the local market and by taking advantage of the way the three formats complement one another.
marketing@alchempro.com
