(Boursier.com) — crossroads gained 0.8% to 18.4 euros on the Paris market while speculation around a sale of the Taiwanese activities of the distributor are back. According to ‘traditional’ sources close to the ‘Bloomberg’ file, the French giant is in advanced discussions to sell a majority stake in its Taiwanese operations to its local minority partner Uni-President Enterprises Corp. The Taiwanese food conglomerate, which has a right of first refusal for Carrefour’s 60% stake, and Carrefour are discussing details of a potential transaction, including financing and antitrust hurdles, the sources said. An agreement could be reached in the coming weeks.
No final decision has been made, however, and other bidders remain interested in the assets. “We are handling this according to the script,” Uni-President Chairman Lo Chih-Hsien said when asked about a potential deal on March 11. “When the time is right, everyone will know.”
Carlyle Group, CVC Capital Partners and Taiwanese conglomerate Far Eastern have also reportedly expressed interest in the deal. Carrefour’s Taiwanese operations could be valued at least $1.9 billion. Carrefour created its first point of sale in Taiwan in 1989, two years after creating a joint venture with Uni-President. The company now has more than 320 stores nationwide.
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