Carrefour has bought 127 shopping malls for some 2 billion euro. These shopping malls in France, Spain and Italy will be put in a separate company, alongside the malls Carrefour already owns.
One of the largest in Europe
In total, this new company will own 172 shopping malls, all in close proximity of a Carrefour hypermarket, which Carrefour hopes will help stimulate its flagship stores once again. Carrefour will renovate, modernize and expand all the different commercial locations where necessary.
This new company will have 800,000 m² of retail space, worth 2.7 billion euro and is, from its start, one of the largest European shopping mall companies. Carrefour will own 42 percent of the new company’s shares, while the rest will be divided between institutional investors. The deal between Carrefour and Klépierre should be finalized in the first half of 2014.
(translated by Gary Peeters)