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Carrefour announces transforming partnerships in China

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has announced a potential investment by and Yonghui in China as well as a strategic cooperation agreement with Tencent in China.

Carrefour announces transforming partnerships in China
Carrefour has signed a term sheet with Tencent and Yonghui regarding a potential investment in Carrefour China

Potential Investment by Tencent and Yonghui in Carrefour China

Carrefour has signed a term sheet with Tencent and Yonghui regarding a potential investment in Carrefour China.

The potential investment will leverage Carrefour’s global retail knowledge with Tencent’s technological excellence and Yonghui’s operational knowhow and in particular its deep knowledge of fresh products.

Upon completion of this investment, Carrefour will remain the largest shareholder of Carrefour China.

Strategic Cooperation Agreement with Tencent

Moreover, Carrefour and Tencent are pleased to announce they have signed a preliminary agreement regarding a strategic business cooperation in China, in order to bring together Carrefour’s longstanding retail knowledge and Tencent’s digital expertise and innovation capabilities.

Thanks to this partnership, Carrefour will improve its online visibility, increase the traffic of its offline and online retail activities and benefit from Tencent’s advanced digital and technological expertise to develop new smart retail initiatives.

Tencent will further develop the retail services offered on its social platforms and promote the use of Weixin as well as Weixin Pay, cloud computing and other services within the Carrefour ecosystem.

The contemplated scope of cooperation includes key partnership areas such as cooperation on data, smart retail, mobile payment, in-store experience and data analysis to boost Carrefour China’s customer traffic.

The strategic cooperation and investment are subject to further diligence and agreement of the parties on the terms of a definitive documentation. Carrefour will keep the market informed of further progress as appropriate.