Carrefour will sale Dia

In order to reorganize the group and create value for shareholders, the board of Carrefour approved the demerger proposal of 100% of the hard discount Dia and 25% of Carrefour Property, the entity that includes the real estate group.

 
Dia, third hard discounters in the world behind the German Aldi and Lidl, will be completely separated from the group and will become a separate entity. Dia realised last year nearly 10 billion turnover, less than 10% of total group sales. Dia will be listed on the Madrid Stock Exchange, its first market where it makes over a third of its sales.

This division should allow the second global retailer to focus on developing the potential of Carrefour and new concepts recently introduced.

These two projects are still subject to shareholder vote at the Annual General Meeting of Carrefour of June 21st, 2011, and the Annual General Meeting of Carrefour Property on June 23rd 2011.
 

Source: Carrefour, boursier, figaro