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Announced

Completed

Suning completed the acquisition of 80% stake in Carrefour's China unit for $681m.

Financials

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Transaction Value£548m
Consideration TypeCash
Capital Owned-
Capital Bid For80%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Private

food retail

Friendly

Acquisition

Food Retailers and Wholesalers

Majority

China

Single Bidder

Synopsis

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Suning.com, one of the largest commercial enterprises in China completed the acquisition of an 80% equity stake in Carrefour China for $681m. Suning.com will become the controlling shareholder of Carrefour China. Carrefour Group will retain a 20% stake in the business and two seats out of seven on Carrefour China’s Supervisory Board. "This is a key step in Suning's smart retail plan. Carrefour's FMCG experience and supply chain capabilities can be integrated with Suning's full-scenario retail model, solid logistics network and advanced technology." Jindong Zhang, Suning Holdings Group Chairman.

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