MASSY, France--(BUSINESS WIRE)--Regulatory News:
Carrefour Group (Paris:CA) announces it has completed the disposal of the entire share capital of Cargo Property Assets to Argan, a listed property company specializing in logistics real estate.
Carrefour therefore received a remuneration equivalent to 288 million euros, 80% of which in cash and 20% in Argan stock. Carrefour now holds about 5% of Argan's share capital.
This operation will contribute to achieving the objective of the Carrefour 2022 plan of divesting 500 million euros of non-strategic real estate assets by 2020.
With a multiformat network of more than 12,000 stores in over 30 countries, Carrefour Group is one of the world's leading food retailers. Carrefour serves 105 million customers worldwide and posted sales of 84.9 billion euros in 2018. The Group has more than 360,000 employees who contribute to making Carrefour the world leader in the food transition for all, offering quality food every day, accessible everywhere and at a reasonable price.
For more information, visit www.carrefour.com, Twitter (@CarrefourGroup) and LinkedIn (Carrefour).
Argan is the sole French real estate company specializing in the DEVELOPMENT & LEASING OF PREMIUM WAREHOUSES listed on Euronext.
It provides by itself the development, maintenance and rental management of its warehouses. Its 60 warehouses located in France represent more than 1.7 million square meters and € 1.7 billion of valuation as at June 30th, 2019.
Argan is listed on the B segment of Euronext Paris (ISIN FR0010481960 - ARG) and is part of the CAC All-Share and IEIF SIIC France indexes. The property company has opted for the SIIC tax treatment since July 1st, 2007.