Carrefour Buys Out Minorities Holders In Colombian Unit
PARIS - French supermarket retailer Carrefour SA Thursday said it is buying the remaining 45 percent stake in its Colombian division in a move that will boost its earnings, Dow Jones Newswires reports.
Carrefour said it will buy the remainder of Carrefour Colombia shares not already under its control, from local companies Valores Bavaria SA, which has 35 percent of Carrefour Colombia, and from Sigla, which has 10 percent.
The financial terms of the transactions weren't disclosed.
Carrefour, the world's second-biggest supermarket retailer, said the transaction would have a positive impact on its earnings.
The retailer has nine hypermarkets in Colombia, which had total revenue of EUR267 million ($313 million) in 2002. It plans to open up to three hypermarkets there this year, according to the report.
Carrefour said it will buy the remainder of Carrefour Colombia shares not already under its control, from local companies Valores Bavaria SA, which has 35 percent of Carrefour Colombia, and from Sigla, which has 10 percent.
The financial terms of the transactions weren't disclosed.
Carrefour, the world's second-biggest supermarket retailer, said the transaction would have a positive impact on its earnings.
The retailer has nine hypermarkets in Colombia, which had total revenue of EUR267 million ($313 million) in 2002. It plans to open up to three hypermarkets there this year, according to the report.