Tikehau Capital, the Paris-based alternatives investment manager backed by Singaporean state-owned investor Temasek Holdings, has agreed to buy a portfolio of 30 French hypermarket and supermarket properties from troubled grocery store operator Groupe Casino for over €200 million ($215 million).
Suning Buys Carrefour’s China Operation Off the Discount Shelf at RMB 4.8B
Chinese retailer Suning.com has agreed to buy an 80 percent stake in Carrefour Group’s China unit for RMB 4.8 billion ($699 million) in cash, according to an announcement to the Shenzhen stock exchange.
The agreement paves the way for the… Read More>>
Fosun in Talks to Invest $495M in German Wholesaler Metro
Chinese investment firm Fosun International is reportedly in talks to to buy a 426 million euro ($495 million) stake in German food wholesaler Metro AG, unnamed sources told Bloomberg. With Metro’s current market capitalization of 4.85 billion euros, Fosun would… Read More>>
US Hypermarket Chain Costco Sets Up in Shanghai
American wholesale giant Costco is opening its first store in the world’s second-biggest economy, even as foreign retailers like Tesco and Lotte scale back their businesses in China due to market barriers and disappointing sales.
Costco inked an agreement with… Read More>>
Lotte Sells Mainland Stores to Chinese Rival for $230M After Missile Defense Clash
The retail arm of Korean conglomerate Lotte Group has shed the first piece of its hypermarket business in China, following a geopolitical spat that has slashed its sales in the country by 77 percent.
Lotte Shopping will sell one of… Read More>>
China Retail Slowdown Spreads From Boutiques to Big Box Stores
Same store sales at China’s largest hypermarket chain will fail to grow in 2014, and the owners of the RT-Mart stores blame it on the country’s slowing economy. The announcement from Sun Art Retail Group on August 14th hints that China’s… Read More>>
Wal-Mart Projects Slower Growth in China Until 2016
Wal-Mart announced on Thursday that it would be scaling back its rate of expansion in China over the next three years, as it plans to open 100 stores between now and the end of 2015.
Wal-Mart Stores Inc, which is… Read More>>