Deals
Carrefour to Sell Indonesia Stake to Partner for $671 Million
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Carrefour SA, France’s biggest retailer, agreed to sell its 60 percent stake in its Indonesian unit to local partner CT Corp. for 525 million euros ($671 million) in the latest move to exit peripheral businesses.
The transaction will give CT Corp. full control of Indonesia’s third-largest retailer, which has 84 outlets and had revenue of 1 billion euros in 2011, Carrefour said today in a statement. The 25-year-old buyer will become Carrefour’s exclusive franchisee in the Asian country.