Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan

//Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan

Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan

Suning.com, a Chinese electronics retailer and e-commerce giant, has agreed to buy an 80 per cent stake in the Chinese operations of French supermarket retailer Carrefour SA for 4.8 billion yuan (US$699 million) in cash, reflecting how digital technologies continues to redraw the consumer landscape in the world’s second largest economy.Suning said in a filing to the Shenzhen Stock Exchange on Sunday evening that Carrefour will retain a 20 per cent share in the businesses and two out of seven…

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By | 2019-06-23T15:43:27+00:00 June 23rd, 2019|Business|Comments Off on Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan