Google News

Carrefour announces the disposal of its business in Thailand

Must Read

Carrefour has signed an agreement with Big C, a subsidiary of Groupe Casino, for the divestment of its operations in Thailand for an enterprise value of €868 million. This valuation corresponds to 120% of the net sales of the business that is being sold and a multiple of 13.0 x EBITDA.

Carrefour’s decision to sell its operations in Thailand is part of its strategy to focus its resources on markets where it holds a leadership position and optimize its capital employed. Carrefour’s growth prospects in Thailand did not allow the Group to envisage occupying a leading position in this market in the short- or medium-term.

Present in Thailand since 1996, Carrefour operates 42 stores including 34 hypermarkets (7 in full ownership). Carrefour is the fifth-biggest player in organized food distribution in Thailand with a market share of 6%, net sales of €723m and EBITDA of €67m over a twelve-month period to 30 June 2010.

Big C, a subsidiary of Groupe Casino, is the second hypermarket operator in Thailand, with a portfolio of 69 hypermarkets and net sales of €1.7bn over a twelve-month period to 30 June 2010.
The transaction is expected to close in the first quarter of 2011.

– IndiaRetailing Bureau

Latest News

The Indian QSR Spread

An overview of the quick service restaurants segment in India The Quick Service Restaurant (QSR) market in India is...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.