Carrefour China Sale not on the Agenda

Asia .
Carrefour China Sale not on the Agenda

Carrefour has denied business media reports it is considering selling all or some of its Chinese retail business. According to an article, quoting “people familiar with the matter”, the French retail giant is mulling options for the future of the Carrefour China business where sales fell 10 percent last year to €3.6 billion.

Carrefour “is working with an adviser and has begun reaching out to potential suitors”. Its sources asked not to be identified because the deliberations are private. However, a spokeswoman for Carrefour responded saying a sale of the business is “not on the agenda.”

Analysts estimate the Carrefour China business could fetch about US$1 billion if it was sold in total, however, options being considered to include selling a share to a local partner – or do not sell any of it. No final decision has been made as yet.