Carrefour and CT Corp Reorganize Their Partnership in Indonesia
BOULOGNE-BILLANCOURT, France -- November 20, 2012
Regulatory News :
Continuing its strategy of refocusing on its core activities, Carrefour Group
(Paris:CA) announces today the sale of its 60% stake in Carrefour Indonesia to
its local partner, CT Corp, which thus becomes Carrefour's exclusive
franchisee in the country. The transaction is valued at €525 million.
Present in Indonesia since 1998, Carrefour is the third-largest retailer in
the country with 84 outlets (including 70 hypermarkets) and net sales of €1
billion in 2011. Following the partnership agreement concluded in April 2010,
Carrefour owned 60% of Carrefour Indonesia and CT Corp owned the remaining
Under the agreement signed today, CT Corp takes full control of these
activities and becomes Carrefour’s exclusive franchisee in Indonesia.
Carrefour expresses its full confidence in CT Corp’s ability to continue to
successfully develop the brand and strengthen its position in the Indonesian
The closing of the transaction will take place in January 2013, subject to the
approval of the Indonesian anti-trust authorities.
The Carrefour Group is the largest retailer in Europe, and the second largest
worldwide, with more than 9,900 stores under banner in 30 countries and
412,000 employees. For over fifty years, Carrefour has been a partner in the
day‐to‐day lives of more than 25 million customers in Europe, Asia and Latin
America. The Group combines different store formats ‐ hypermarkets,
supermarkets, convenience stores and cash & carry outlets ‐ constantly
adapting to its customers’ consumption patterns, and offering the lowest
prices on a large range of products and services. With more than 3 billion
cash transactions per year, the Group, through its activities, has an
economic, social and environmental responsibility and is committed to the
quality of its products and the safety of its customers.
About CT Corp
Founded in 1987 by Chairul Tanjung, CT Corp principally operates in three
sectors in Indonesia: financial services, natural resource management, and
media and personal services including food distribution with Carrefour
Indonesia. The Group generated €2 billion in sales in 2011, manages over €6
billion in assets and employs more than 70,000 people.
Tel: +33 (0) 1 41 04 26 17
Tel: +33 (0) 1 41 04 26 00
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