The Uni-President group will acquire all of Carrefour Taiwan

Taipei, July 20 (CNA) Members of the Uni-President Group conglomerate, President Chain Store Corp. and Uni-President Enterprises Corp., have agreed to take full ownership of Carrefour Taiwan through the acquisition of a 60% stake held by the hypermarket’s French parent company.

At a press conference on Tuesday evening, Chen Kuo-hui (陳國輝), the chief financial officer of Uni-President Enterprises, said his company would spend NT$23.9 billion to acquire a 49.5 % in Carrefour Taiwan, with President Chain Store spending NT$5.1 billion for 10.5%, to add to the 40% of the company currently held by the two members of the Uni-President group.

The total consideration of NT$29 billion translated into an acquisition price of approximately NT$65 per share, according to Uni-President Group.

After the acquisition, Chen said Uni-President Enterprises would own a 70% stake in Carrefour Taiwan, with President Chain Store owning the remaining 30%.

The acquisition was approved by the boards of Uni-President Enterprises and President Chain Store on Tuesday, Chen said, adding that the two companies would file an application with the Fair Trade Commission (FTC) for approval. regulatory approval in 15 days.

The deal is expected to close in mid-2023 if the deal gets the blessing of the FTC, which last week conditionally approved an NT$11.5 billion takeover by PX Mart of the operator. RT-Mart hypermarkets, a rival of Carrefour Taiwan.

The 68 Carrefour hypermarkets, 272 supermarkets and 129 stores owned by Carrefour will be wholly owned by the Uni-President group, which will also retain the rights to the Carrefour brand in Taiwan.

In addition, the Taiwanese conglomerate is expected to obtain real estate assets from logistics centers and some hypermarket stores currently owned by the joint venture.

Uni-President Group is currently the largest convenience store operator in Taiwan through ownership of its 6,503 7-Eleven outlets, while it also operates Cosmed health and beauty stores and Uni-President department stores. Style in the country.

According to local statistics, revenue generated by the Taiwanese hypermarket industry totaled NT$228.7 billion in 2020, with Costco holding a 42.8% market share, ahead of Carrefour Taiwan (32.3%), RT -Mart (11.7%) and A.Mart (4.6%).

Wu Shih-hao (吳師豪), a professor in the Department of Marketing and Distribution at National Kaohsiung University of Science and Technology, said the acquisition is expected to help Uni-President Group solidify its lead in the industry. retail in Taiwan.

Wu said the acquisition is expected to enable the conglomerate to own a comprehensive retail network in Taiwan by holding various distribution channels, adding that with the presence of its existing virtual distribution network, the conglomerate is expected to meet demand. of a wide range of consumers.

After the transaction, Carrefour will withdraw from the Taiwanese retail market as part of its decision to exit the Asian market. In 2029, the French retail giant sold its assets in China. (By Jiang Ming-yan and Frances Huang)

End article/ASG

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