French Carrefour is considering its Chinese division selling

The largest European grocery retailer is considering the selling Chinese business possibility, which can bring it about $ 1 billion.

French Carrefour SA is working with a consultant and has already begun to target potential buyers, reports Bloomberg, citing its own sources. A retailer can sell only a stake in the Chinese division or refuse from a transaction altogether, sources note. The final decisions, according to its, have not yet been made.

The revenue of Carrefour’s Chinese business decreased in 2018 by 10%, to 3.6 billion euros.

Other international retailers’ number has previously announced the Chinese business’ reorganization according with the growth business weaker due to the increased interest in e-commerce sphere.

Last week, agency sources are reporting that German retailer Metro AG intends to sell the controlling stake in its Chinese division.

From Interfax-Ukraine

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