Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

DIA Said to Hire BNP to Explore Sale of French Business

BNP Paribas
Distribuidora Internacional de Alimentacion SA, is working with BNP Paribas SA on a potential sale of its French business, according to people familiar with the matter. Photographer: Balint Porneczi/Bloomberg

March 27 (Bloomberg) -- Distribuidora Internacional de Alimentacion SA, a Spanish discounter, is working with BNP Paribas SA on a potential sale of its French business as the company struggles to grow in the country, according to people familiar with the matter.

DIA, as the Madrid-based retailer that was spun off from Carrefour SA is known, is exploring options including a divestment of its 865 French stores as early as this year, said the people, asking not to be identified because the deliberations are private. One option is to sell the French business by regions, one of the people said.

Chief Executive Officer Ricardo Curras reiterated this month that the company decided to “open new alternatives” for the French business, without specifying the plans. DIA’s adjusted earnings before interest, tax, depreciation and amortization in France plunged 36 percent last year to 60.2 million euros ($83 million) as net sales fell 11 percent to 1.9 billion euros. That compares with growth in both measures for the whole group.

The Spanish company’s shares rose 3.5 percent to 6.57 euros in Madrid, the biggest gain since July last year, and valuing the company at 4.3 billion euros. DIA was the best performing stock on Spain’s benchmark IBEX 35 index today.

DIA, which had 7,328 stores worldwide at the end of 2013 including the Schlecker and Clarel outlets, is focusing on growth in markets such as Iberia, Argentina and Brazil, while closing stores in countries such as China. Last year, it sold its supermarket joint venture in Turkey to Yildiz Holding AS, ending a 14-year presence in the country.

Representatives at DIA and BNP Paribas declined to comment.

To contact the reporters on this story: Manuel Baigorri in London at; Esteban Duarte in Madrid at

To contact the editors responsible for this story: Aaron Kirchfeld at; Celeste Perri at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.