Carrefour to Buy 127 Shopping Malls
December 19, 2013
Carrefour has signed a memorandum of understanding with Klépierre to acquire 127 shopping malls. With this acquisition, Carrefour plans to create a company for shopping malls, adjoining its hypermarkets in Europe. The acquisition from Klepierre includes sites in France, Spain and Italy. These sites will be combined with 45 that Carrefour already owns to create a new, separate property company with more than 8 million sq. ft. of retail space. The transaction, which remains subject to final agreement between the parties and the approval of the relevant regulatory authorities, will be submitted for consultation to employee representative bodies and should close in the first half of 2014.