Carrefour said on Wednesday that it made final the sale of its operations in Malaysia for an enterprise value ― including equity and debt ― of EURO250 million (USD323.3 million) to AEON, Japan’s No. 1 supermarket operator. The sale is the latest notched up by recently installed chief executive, Georges Plassat, who is seeking to refocus the world’s No. 2 retailer on its key markets and cut its debt after years of underperformance.
Carrefour is the fourth-largest retailer in Malaysia with 26 hypermarkets, which brought in EURO400 million (USD517.3 million) in revenue in the 12 months to 30 June.
(Source: The Malaysian Insider)