logo
Plus   Neg
Share
Email

Carrefour To Sell Entire Share Capital Of Cargo Property Assets To Argan

French supermarket chain Carrefour SA (CRERF.PK,CRRFY.PK) said that it agreed to sell the entire share capital of Cargo Property Assets to Argan. This operation will contribute to achieving the objective of the Carrefour 2022 plan of divesting 500 million euros of non-strategic real estate assets.

The transaction would be based on a valuation of the real estate assets held by Cargo Property Assets of 900 million euros, transfer tax excluded. Carrefour would therefore receive a remuneration equivalent to about 290 million euros, about 80% of which in cash and 20% in Argan stock. Carrefour would hold about 5% of Argan's share capital.

The completion of the transaction is subject to the approval of Argan shareholders and other customary conditions.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Crate and Barrel recalled about 2,440 units of Parke Twin and Full Beds for potential fall hazard, a statement by the U.S. Consumer Product Safety Commission showed. The company said the headboard on the recalled beds can separate from the side rails to pose a fall hazard. The recall involves six models of Crate and Barrel Parke model twin and full platform beds with a wood headboard and frame. Back-to-school and college spending is projected to exceed the $100 billion mark for the first time ever ever despite the coronavirus pandemic, according to an annual survey by the National Retail Federation or NRF. The survey released by NRF and Prosper Insights & Analytics projects total spending for K-12 and college combined to reach $101.6 billion in 2020, up from last year's $80.7 billion. U.S. laboratory equipment maker Thermo Fisher Scientific Inc. (TMO) and Netherlands-based Qiagen N.V. (QGEN) announced Thursday that they have entered into an amendment to their acquisition agreement under which Thermo Fisher has commenced a tender offer to acquire all of the ordinary shares of Qiagen. The...
Follow RTT