Carrefour Sells Taiwan JV to Uni-President
July 19 2022 - 12:40PM
Dow Jones News
By Kim Richters
Carrefour SA said Tuesday that it agreed to sell its 60% stake
in Carrefour Taiwan to co-shareholder Uni-President Enterprises
Corp., giving Carrefour Taiwan an enterprise value of around 2
billion euros ($2.03 billion).
Carrefour Taiwan was formed in 1987 as a joint venture between
the two companies and Uni-President will become the sole owner of
the company after the transaction, which is expected to close by
mid-2023, said Carrefour.
In 2021, Carrefour Taiwan had net sales of EUR2.5 billion,
earnings before interest, taxes, depreciation and amortization of
EUR243 million, and recurring operating income of EUR78
million.
"After the completion of Grupo BIG acquisition in Brazil last
June, this transaction will refocus Carrefour on its core strategic
regions in Europe and in Latin America," said the French
grocer.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 19, 2022 12:25 ET (16:25 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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