Carrefour to Sell Colombian Business

Carrefour signed an agreement with the Chilean group Cencosud for the sale of its operations in Colombia for an enterprise value of € 2.0 billion.
 

This transaction is in line with Carrefour’s new strategy of focusing on geographies and countries in which it holds or aims to develop a leading position.
 

Present in Colombia since 1998, Carrefour operates 72 hypermarkets, 16 convenience stores and 4 cash and carry stores in the country, representing net sales excluding petrol of € 1.5 billion (over a 12-month period to June 30, 2012).

Cencosud is a leading retailer in Latin America, with operations in Chile, Brazil, Peru, Argentina, as well as Colombia, since 2007. Cencosud has built a strong position in food retail, but also in DIY, department stores, shopping malls and financial services.

The transaction should be effective by the end of 2012.