Carrefour agreed to sell a portfolio of 35 store properties in France and Spain to a joint venture for approximately €290 million. It will continue operating the locations under leaseback agreements with initial terms of 12 years. The sale will generate a significant accounting gain, Carrefour said, but will not materially affect recurring operating income.
Separately, Carrefour is in exclusive negotiations with Colruyt Group about a potential acquisition of Codifrance, a French wholesale business supplying around 3,000 neighborhood stores. The parties said the discussions do not guarantee a final agreement.