Suning Tesco officially acquired Carrefour. Carrefour China is now renamed su
In the morning of September 27, Suning Tesco announced that Suning international, a subsidiary of the company, had paid all the transfer consideration, Suning international and the transferor had completed the delivery procedures of 80% of Carrefour China's shares in accordance with the share purchase agreement, and the company had completed the equity acquisition.
According to the announcement, the 44th meeting of the sixth board of directors of Suning Tesco deliberated and adopted the proposal on cash acquisition of 80% shares of Carrefour China Holdings N.V. (Carrefour China), and Suning international purchased 80% shares of Carrefour China with cash of 4.8 billion yuan or equivalent euros to the transferor.
Suning Tesco said that on August 26, 2019, it received the decision not to implement further examination in the anti-monopoly examination of business concentration issued by the State Administration of market supervision (anti-monopoly examination decision [2019] No. 301). This transaction has passed the centralized anti-monopoly examination of business operators issued by the State Administration of market supervision.