Carrefour plans to sell its subsidiaries in Poland and Taiwan and has commissioned KPMG to review them, Reuters reported, citing French weekly magazine Challenges.
However, on Wednesday, Carrefour expressed a reservation that it had begun to consider the possibility of consolidating, withdrawing investments or merging foreign subsidiaries, But no decision has been made to sell any assets Reuters reports.
As part of its future strategy, Carrefour is considering the critical mass of its international subsidiaries and possible future steps in terms of consolidation, alliances or divestitures. The process is just beginning, and Carrefour denies any decision to sell the assets– A company spokeswoman informed.
As Reuters reports, Europe’s largest grocery retailer is in the process of implementing a 5-year plan, launched in early 2018. It supposes to reduce costs and increase investment in online business. The plan is designed to help generate better profits and fend off the growing competition from Amazon.
Carrefour has more than 900 stores in our country in six formats: supermarkets, hypermarkets, wholesale and discount stores, local and specialty stores, and the online store. Carrefour also has a network of 20 shopping centers in Poland with a total area of more than 230 thousand square meters. GLA and a network of more than 40 petrol stations.
Source: Reuters, ISB News