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Carrefour to expand in Spain

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 septiembre 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.

Read more about the latest deals on CAPEX.com!

Sources: businessinsider.com, finance.yahoo.com


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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel comenzó su destacada carrera profesional en reputadas instituciones financieras como el Banco Santander y el Banco Central-Hispano. Es autor de importantes libros sobre trading en el mercado de divisas.