Announced
Completed
Financials
Tags
Completed
Private
food retail
Friendly
Acquisition
Food Retailers and Wholesalers
Majority
China
Single Bidder
Synopsis
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.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.