Carrefour Group has signed a Share Purchase Agreement on 21 January2 2008 with PT Sigmantara Alfindo and Prime Horizon Pte. Ltd. to acquire a 75% majority stake in PT Alfa Retailindo Tbk, (“Alfa Retailindo”) for a total equity consideration of IDR 674bn (€49.3m).
Alfa Retailindo, a listed company on the Jakarta Stock Exchange, is a major operator in Indonesia, operating 29 stores across the country (with sales area comprised between 1000m² and 4000m²), of which 13 are located in Jakarta. Alfa Retailindo reported net sales in 2006 of IDR 3624bn (€265m).
With this acquisition, Carrefour Indonesia consolidates its position as a leading
food retailer in the country. This acquisition forms part of Carrefour’s strategy to reinforce its presence in key growth markets through a locally adapted multi format approach. Carrefour’s operations in Indonesia today consist of 37 hypermarkets (vs. 29 hypermarkets in 2006). Carrefour in Indonesia recorded €627m sales in 2006, and sales were up 14.4% over the first nine months of 2007.