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In Brief: Carrefour Sells in Portugal…

Carrefour said it would sell its Carrefour stores in Portugal to Sonae Distribuicao for 662 million euros, or $913.6 million at current exchange.

– CARREFOUR SELLS IN PORTUGAL: Carrefour, the world’s second-largest retailer behind Wal-Mart, on Friday said it would sell its Carrefour stores in Portugal to Sonae Distribuição for 662 million euros, or $913.6 million at current exchange. The transaction includes 12 hypermarkets and eight gas stations that operate under the Carrefour banner. It does not involve Carrefour’s Minipreco hard discount network in the country. Carrefour has been unloading its less profitable operations to concentrate on promising markets. It recently sold businesses in Japan, South Korea and Mexico. Earlier this month, it said it would buy 250 hard discount stores in Spain. In April, Carrefour bought 34 discount hypermarkets in Brazil for more than $1 billion.

This story first appeared in the July 30, 2007 issue of WWD.  Subscribe Today.