PARIS — Carrefour SA continues to lighten its portfolio.
The world’s second-largest retailer after Wal-Mart Stores Inc. said Wednesday it has sold its operation in Malaysia to Japanese retailer Aeon Co. Ltd. for an enterprise value of 250 million euros, or $323.4 million at current exchange.
“The transaction is part of Carrefour’s strategy of refocusing on its core activities and allocating its resources to mature countries where it occupies strong and established positions and emerging markets where it has strong growth potential,” Carrefour said.
Carrefour’s Malaysian division posted net sales of 400 million euros, or $536.2 million, in the 12 months to June 30, making it the country’s fourth-largest retailer with 26 hypermarkets. With 29 stores in Malaysia, Aeon is establishing itself as a leader in that market, Carrefour added.
Earlier this month, Carrefour sold its operations in Colombia for an enterprise value of 2 billion euros, or $2.51 billion. In the last few months, the retailer has also sold its stake in Greek supermarket chain Marinopoulos and closed its two stores in Singapore.
Carrefour said sales rose 2.1 percent in the third quarter, driven by emerging economies as Southern Europe continued to struggle. Analysts hailed the better-than-expected results as a sign that the reforms being put into place by new chairman and chief executive officer Georges Plassat are beginning to bear fruit.