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Carrefour announces the sale of Carrefour Taiwan to Uni-President

Carrefour announces the sale of Carrefour Taiwan to Uni-President

Carrefour today announces it has signed an agreement to sell its 60% equity interest in Carrefour Taiwan to its long-term partner and co-shareholder Uni-President. The transaction values Carrefour Taiwan at a €2.0bn Enterprise Value.

Created in 1987 through a 60%-40% joint venture between Carrefour and Uni-President, Carrefour Taiwan has enjoyed tremendous growth and generated substantial value for 35 years. Today, the Group operates with almost 15 000 employees an extensive network of 340 stores, of which 68 hypermarkets and 272 supermarkets and premium stores, as well as 129 shopping malls. In 2021, Carrefour Taiwan generated net sales of €2.5 billion, EBITDA of €243 million and Recurring Operating Income of €78 million.

After completion, Uni-President group will become the sole owner of Carrefour Taiwan.

Uni-President group is a leading diversified Taiwanese based conglomerate with a particularly strong footprint in Asia and is notably managing the 7-Eleven retail brand in Taiwan.

Based on its longstanding relationship with Uni-President, Carrefour is confident that Carrefour Taiwan will pursue developing its operations and services to the benefit of all its stakeholders.

Carrefour Taiwan will continue using the Carrefour brand in Taiwan in the coming years and will be part of the wide network of Carrefour brand licensees in over 40 countries.

The closing of the transaction is subject to the approval by the Taiwanese competition authorities (TFTC) and other customary conditions. It is expected to materialize by mid-2023.

July 19, 2022

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