Leading international law firm Clifford Chance has advised Carrefour Nederland B.V. and Carrefour S.A on the sale of their 60% stake in Presicarre Corporation (Carrefour Taiwan) to local partner Uni-President Enterprise Corp (Uni-President) at an enterprise value of EUR 2 billion.

Lead partner Emma Davies commented, “We continue to feel very privileged to be working with Carrefour on its strategically important transactions in the APAC region, having previously assisted on the disposal of its controlling stake in Carrefour China in 2019 and its acquisition of Wellcome Taiwan in 2020.”

Emma was supported by consultants Brian Harley and Ryan Wong and associates Cecilia Chan, Winifred Chow, Dominic Chiang and Ryan Siu on the corporate aspects of the transaction. Partner Ling Ho, consultant Anthony Fay and senior associates Iris Mok and Dominique Yong advised on IP, tax and commercial contract matters. Partners Dessislava Savova and Aline Cardin advised on the French law aspects of the deal, supported by counsel Alexander Kennedy, senior associate Jérémy Guilbault and associate Preslava Eneva. Partner Richard Blewett and counsel Dayu Man provided antitrust advice.

Following the completion of the transaction, Carrefour will continue to licence the Carrefour brand to Uni-President. The completion of the transaction is subject to regulatory approvals and other customary conditions.

Carrefour is a leading global retailer of hypermarket chains, grocery stores and convenience stores. Created in 1987, Carrefour Taiwan is a joint venture established between Carrefour and Uni-President. Today, the company employs 15,000 people across a network of 340 stores and 129 shopping malls.