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Carrefour sells hypers in Portugal

by ArabianBusiness.com staff writer  on Friday, 10 August 2007

Carrefour has agreed to sell its hypermarket business in Portugal to Sonae for EUR662 million (USD888.2 million), according to Planet Retail.

In a statement, the group said the transaction does not include Carrefour's 416 Minipreço discount stores in Portugal. At the end ofJune 2007 Carrefour Portugal operated 12 hypermarkets and eight petrol stations under the Carrefour banner, generating 2006 sales excluding value added tax of EUR530 million (US$664.9 million).

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