COLOMBIA: Cencosud buys Carrefour Colombia assets
Carrefour has had a presence in Colombia since 1998
The EUR2bn (US$2.61bn) deal sent Carrefour's shares soaring 6.63% to EUR18.49 in morning trading today (19 October). The deal marks the latest disposal by the French retail giant after it sold its stake in its Greek unit to joint venture partner Marinopoulos in June.
The agreement with Cencosud, Carrefour said, is in line with its new strategy of focusing on geographies and countries in which it holds or aims to develop a leading position.
Having had a presence in Colombia since 1998, Carrefour operates 72 hypermarkets, 16 convenience stores and four cash and carry stores in the country, representing net sales, excluding petrol, of EUR1.5bn.
Carrefour said it has "great confidence" in Cencosud, a leading player in the South American retail market.
The transaction is expected to be effective by the end of the year.
On Thursday, two of the world's largest food retailers will report their 2012 financial results and, more importantly, try to convince investors their moves to improve their operations in key markets ...
Qatari investment vehicle Hassad Foods has bought a majority stake in Indian food supplier Bush Foods Overseas....
- Why Lactalis could move for Dairy Crest
- How brands are eyeing their own retail presence
- Who could swoop for Diamond Foods?
- The consistent inconsistency of European promos
- Indonesia – How ice cream makers can drive volumes
- Nestle, R&R Ice Cream in joint venture talks
- Mondelez 'preparing to sell European cheese unit'
- Unilever acquires Italian gelato group Grom
- How the food industry is reacting to TPP
- China implements new safety regulations
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- E-Grocery Market in India - Market Research 2015-2019
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019