Subscribe to ESM button
23rd December

Carrefour Continues Exit Strategy With Indonesian Departure

Carrefour is set to exit Indonesia, having agreed to sell its 60CarIper cent stake in Carrefour Indonesia to local partner CT Corp for €525 million. The move is the latest in the France-based group's streamlining of its international operations, in a strategy to focus on its markets where it has a "strong position."

Carrefour first entered Indonesia in 1998, and is the third-largest retailer there, with net sales of €1 billion in 2011. CT Corp, already a 40 per cent stakeholder in Carrefour's Indonesian operation, will now have full control of Carrefour Indonesia’s 85 stores and will continue to operate the use the Carrefour brand in the country. The Indonesian transaction will take place in January 2013, subject to the approval of the Indonesian anti-trust authorities.

The retreat from Indonesia will be the French retailer’s fifth exit under CEO Georges Plassat’s strategy of focusing on its core operations. The second-largest retailer in the world exited Colombia and Greece earlier this year and sold its Malaysian operations last month to Aeon, Japan's leading supermarket retailer. It has also announced the closure of its two stores in Singapore before the end of the year. Meanwhile, Carrefour Romania has opened its 13th Carrefour Express store
this week. (21 Nov)

© 2012 - ESM: European Supermarket Magazine

More Articles from Retail

Tesco Retains Top Spot In Irish Grocery MarketTesco Retains Top Spot In Irish Grocery Market

Tesco has held on to its number one position in the Irish grocery market, according to the latest Kantar Worldpanel market share figures for the 12 we [ ... ]

 Discounters Outspend Tesco On Christmas Ads Discounters Outspend Tesco On Christmas Ads

German discounters Aldi and Lidl spent twice as much on British advertising as UK grocery leader Tesco in the initial buildup to Christmas as they sou [ ... ]

Big Brands Set To Be Interviewed Over Tesco ScandalBig Brands Set To Be Interviewed Over Tesco Scandal

It's been reported that some of the world's biggest consumer goods brands are to be dragged into the Tesco accounting scandal.

Family Dollar Judge Clears Way For Dollar Tree Buyout VoteFamily Dollar Judge Clears Way For Dollar Tree Buyout Vote

A judge refused to block Family Dollar Stores Inc. shareholders from voting on Dollar Tree Inc.’s $8.5 billion takeover bid until the discount retai [ ... ]