Brief: Carrefour Acquires Cora And Match Banners

Carmila SA

12/07/2023 17:24

July 12 (Reuters) - Carrefour SA  CARR.PA :
    * ACQUISITION OF CORA AND MATCH BANNERS
    * AGREEMENT WITH LOUIS DELHAIZE GROUP TO ACQUIRE CORA AND
MATCH
BANNERS IN FRANCE
    * CORA AND MATCH BANNERS OPERATE 60 HYPERMARKETS AND 115
SUPERMARKETS RESPECTIVELY AND EMPLOY C.24,000 PEOPLE IN FRANCE
    * TRANSACTION, WHICH IS EXPECTED TO BE FINALISED IN SUMMER
OF
2024, VALUES THE ACQUIRED ASSETS AT ENTERPRISE VALUE OF
ENTERPRISE VALUE OF €1.05BN
    * INTEGRATION OF CORA AND MATCH STORES OFFERS POTENTIAL FOR
SYNERGIES, ESTIMATED AT €110M IN EBITDA ON AN ANNUAL BASIS 3
YEARS AFTER COMPLETION
    * ASSOCIATED INTEGRATION COSTS, SPREAD OVER 2 YEARS, ARE
ESTIMATED
AT €200M
    * CARMILA, IN WHICH CARREFOUR HAS 36% STAKE, HAS REACHED
AGREEMENT
WITH LOUIS DELHAIZE GROUP TO ACQUIRE ITS 93% HOLDING IN GALIMMO

Source text for Eikon: [ID: nNDL1DV3Vh]
Further company coverage:  CARR.PA 

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