The French retailer is supposedly planning to launch a sale of its Taiwan business, which is currently valued at around $1.9bn.
Three people with knowledge of the matter have told Reuters that the supermarket chain operator has hired Morgan Stanley to oversee the sale, which is expected to begin this summer. As of yet, both Carrefour and Morgan Stanley have not given official comment.
It is said that Carrefour has approached a number of potential buyers, including private equity firms, in an attempt to gauge their interest in the matter.
Last December, Carrefour acquired food retailer, Wellcome Taiwan from Asia’s Dairy Farm, meaning that the company become the number two player in Taiwan’s convenience stores market. The transaction covered the purchase of 224 stores as well as a warehouse, with an enterprise value of $113.6M.
Carrefour has reported a total of $1.48bn in Taiwan net sales for the first half, up by 13 per cent year on year. According to the company, the newly acquired Wellcome stores have strongly outperformed.
