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Carrefour to expand in Spain

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Carrefour will be the second-biggest retailer in Spain

The French retailer Carrefour is closing the week with a deal announcement - it will buy 172 SuperSol stores in #Spain.  

The deal made to reinforce #Carrefour’s dominance on the Spanish market will have as center point Madrid and the Andalusian region. Following this deal, Carrefour will be the second-largest grocer in the country after Mercadona. 

The 172 SuperSol stores will be turned into #supermarkets, stores, and branches of Supeco, a retailer operated by Carrefour. 

Carrefour didn’t publish the agreement details, such as the purchase price, but, considering the value of the stores, debt, and balance sheet, the buying price is around $92.3 million. 

The SuperSol deal is currently subject to the approval of regulatory authorities, and if everything goes smoothly, it will be closed at the beginning of 2021. 

Currently, Carrefour stock price is #trading 0.26% higher.

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.