Carrefour announces today the sale of its operations in Malaysia for an enterprise value of €250 million to Aeon, a major player in Japan’s retail sector.
The transaction is part of Carrefour’s strategy of refocusing on its core activities and allocating its resources to mature countries where it occupies strong and established positions and emerging markets where it has strong growth potential.
Present in Malaysia since 1994, Carrefour is the fourth‐largest retailer in the country with 26 hypermarkets,representing net sales of € 400 million (over a 12‐month period to June 30, 2012). Established since 1984 in Malaysia with 29 stores, Aeon is acquiring a leading position in this market, which should enable it to continue the successful development of our business in Malaysia, as it has done previously in Japan.
The closing of the transaction is immediate and effective today.
About Carrefour 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 Aeon AEON Co., Ltd. is the largest retailer in Japan, operating 540 general merchandise stores and 1,502 supermarkets in Japan, and 113 stores outside its domestic market as of end of August 2012. The Company is engaged in a total of 12 business segments such as shopping center development business and financial service business. Aeon counts over 350,000 employees worldwide.