Carrefour leaves Indonesia

Indonesia

Wednesday 21 November 2012

To invest in its mature markets, Carrefour has left Indonesia, following Colombia and Malaysia.

Carrefour Indonesia has sold out to its local partner.

French group received 525 million euros for its 60% stake in Carrefour Indonesia to partner CT Corp, as the new business becomes the exclusive franchisee for Carrefour in the country. The transaction is expected to close in January 2013.

Carrefour Indonesia has 13% market share, behind Alfamart 18% and 20% Indo Market. The second largest worldwide retailer is continuing its new strategy of abandoning markets where the brand is not a leader and refocusing on mature markets.

source : les echos