FRANCE/UK: Carrefour may divest frozen foods division
Supermarket group Carrefour is expected to close the €800 million sale of its 79%-owned Picard Surgeles frozen foods division to UK private equity investment firm Candover Investments PLC within weeks, reports the Dow Jones Newswire. None of the parties involved have made a comment on the subject. Carrefour paid about €140m for its stake in Picard, which posted revenues of €459m and operating profit of €24m during 1999.
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