Carrefour Gains After Taiwan Stake Sale Agreement

Carrefour SA shares gained after the French retailer agreed to sell a controlling stake in its Taiwan operations to local partner Uni-President Enterprises Corp. for NT$29 billion ($970 million).

The stock rose as much as 3.4% in Paris trading. The supermarket operator said late Tuesday that the agreement to sell its 60% stake in Carrefour Taiwan gives the unit a 2 billion-euro ($2.05 billion) enterprise value.

The deal will help Carrefour focus on its “core strategic regions” as Chief Executive Officer Alexandre Bompard reviews assets and prepares a new strategic plan for the company.

Read More: Carrefour Taiwan Exit Opens ...