Posted Jul 19, 2022, 5:44 PMUpdated on Jul 19, 2022 at 6:15 PM
It was an isolated subsidiary in an area which is no longer the group’s priority. Carrefour announced on Tuesday the sale of its Taiwan subsidiary to Uni-President, a local conglomerate which already owned 40%. It has been thirty-five years since the tricolor logo was displayed in ancient Formosa. In 2019, the group led by Alexandre Bompard had already sold 80% of Carrefour China to Suning, the “Chinese Darty”. The CEO is now betting everything on Europe and South America. In Brazil, it has also consolidated its leading position with the takeover of Big, Walmart’s former network.
The operation is carried out on the basis of an enterprise value of 2 billion euros. It covers 340 stores, including 68 hypermarkets, 272 supermarkets and premium stores, as well as 129 shopping malls. In 2021, Carrefour Taiwan generated net sales of 2.5 billion euros. “The value of equity, excluding debt, stands at 1.6 billion. The sale price of 60% of Carrefour Taiwan shares would reach 29 billion Taiwanese dollars, or 1 billion euros, generating a capital gain for Carrefour of 900 million”, indicates the distributor.