Casino subsidary Big C has purchased the 42 stores previously operated by Carrefour in Thailand, for an 'enterprise value' (ie - with the assumption of debt) of €868 million. The transaction, which is currently underway, is expected to close in the first quarter of next year.
Casino's Big C operation is expected to post a turnover of €2.4 billion this year, and the new acquisition will "significantly" boost its local market share in the country, the company said in a statement. In particular, the move will double Casino's presence in the Bangkok area.
Carrefour was present in Thailand since 1996, and 34 of its stores are hypermarkets. It held a market share of 6% in the country. (15 Oct)© 2010 - ESM: European Supermarket Magazine
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