Carrefour Announces the Completion of Its Agreements with Klépierre & the Creation of CARMILA, a Company Dedicated to Enhanc...
April 16 2014 - 11:45AM
Business Wire
Regulatory News:
Carrefour (Paris:CA) and its co-investment partners announce
today the creation of CARMILA, a company dedicated to enhancing the
value of the shopping centers adjacent to Carrefour hypermarkets in
France, Spain and Italy.
CARMILA owns a portfolio of 171 shopping centers comprising:
• on the one hand, 126 sites in France ,
Spain and Italy acquired on April 16, 2014 from Klépierre for a
market value of €2.0 billion;
• on the other hand, 45 sites in France
contributed by Carrefour with a market value of €0.7 billion.
CARMILA thus holds real estate assets valued at €2.7
billion.
Carrefour will own 42% of CARMILA, alongside major international
investors (Amundi, Axa, Blue Sky Group, BNP Paribas Cardif, Colony
Capital, Crédit Agricole Assurances, Pimco and Sogecap). Jacques
Ehrmann is the Chaiman and Chief Executive Officer of CARMILA.
Initial funding consists of €1.8 billion in equity, contributed
by the co-investors for €1.0 billion and by Carrefour for €0.8
billion (of which €0.7 billion through the transfer of assets at
market value and €0.1 billion in cash). Additionally, CARMILA has
obtained bank credit lines for the balance of €0.9 billion.
CARMILA will not be consolidated in Carrefour’s accounts. Its
results will be accounted for under the equity method in the
Group’s accounts.
The creation of CARMILA is part of Carrefour’s strategy of
modernizing and revitalizing its commercial sites for the benefit
of its customers in the countries in which it operates.
About Carrefour GroupThe world’s
second-largest retailer and the biggest in Europe, Carrefour Group
employs 357,000 people. Present in 34 countries with nearly 10,000
stores, Carrefour posted total 2013 sales of €100.2 billion. A
multi-local, multi-format and multi-channel retailer, Carrefour is
a partner to everyday life. It serves more than 12 million
customers daily throughout the world, offering a wide variety of
products and services at the right price. For more information:
www.carrefour.com - @GroupeCarrefour
CarrefourGroup CommunicationsTel: +33 (0) 1 41
04 26 17orInvestor RelationsTel: +33 (0) 1 41 04 26
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