PARIS — French antitrust authorities have validated Carrefour SA’s acquisition of discount retailer Dia France.
 
The retailer said Friday that it had been given the go-ahead to take over more than 800 stores, providing it sells off 56 points of sale.
 
Carrefour said it expects to finalize the deal, announced in June for an enterprise value of 600 million euros, or $752 million at current exchange, in the coming weeks.
 
The acquisition will bring the discount grocer’s French stores back into Carrefour’s portfolio; it had spun off the Dia France activity to Spanish firm Distribuidora Internacional de Alimentación SA just three years ago.
 
The retailer reiterated its intention to use the purchase to allow it to continue growing its multi-format store network in its domestic market.

load comments
blog comments powered by Disqus