Carrefour France has announced the sale of 97 supermarket properties held by its real-estate branch Carrefour Property. Carrefour plans to operate the supermarkets on a 12-year renewable lease.
La Francaise AM, an investment company controlled by French banking group Crédit Mutuel, has bought the buildings for €365 million; the company managed 36 billion euros in assets in December 2010. Carrefour issued five profit warnings over the past 12 month period. Shares in Carrefour have fallen by more than 44 per cent compared to January 2010.
Investors believe that the retailer will issue another profit warning later this month. (4 Jan)
© 2012 ESM: European Supermarket Magazine
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