Suning Ordered to Pay Carrefour $137 Million for China Deal: FT

A Hong Kong Court ordered Chinese retailer Suning.com Co. to pay Carrefour SA more than 1 billion yuan ($137 million) as part of a deal to acquire the French company’s stores in China, the Financial Times reported.

Carrefour had agreed to sell an 80% stake in its China business for 4.8 billion yuan in cash to Suning in 2019 after the French supermarket chain lost ground amid the rise of mainland e-commerce giants.

But when Carrefour exercised its option to sell its remaining stake in the unit in 2021, Suning failed to pay the full amount, the Financial Times ...