Carrefour in Talks to Buy Malls
10 Ottobre 2017 - 4:05PM
Dow Jones News
By Nadya Masidlover
French retailer Carrefour SA said late Thursday that it is in
talks with property company Klepierre SA to buy a portfolio of
malls, as the company pursues its efforts to draw customers back to
stores across Europe.
The announcement comes as Carrefour is gaining traction in its
business at home after years of declining consumer appetite for the
company's signature hypermarkets. The purchase of the shopping
malls, in which Carrefour operates its supermarkets and
hypermarkets, would allow the company to regain a hold over the
shopping environment, boosting the effort to entice Europe's
thrifty consumers.
A deal with Klepierre would partially reverse a 2000 transaction
under which Carrefour sold 150 malls to the French property company
to cut debt.
In a statement, Carrefour said that an agreement with Klepierre
hasn't yet been reached. A company spokeswoman declined to disclose
further details on the matter.
The release by Europe's largest retailer follows an earlier
report by French daily Le Figaro, saying that it is in talks to buy
more than 100 malls in France, Spain and Italy from Klepierre for
1.7 billion euros ($2.28 billion).
Write to Nadya Masidlover at nadya.masidlover@wsj.com
(END) Dow Jones Newswires
October 10, 2017 09:50 ET (13:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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