DIA, the Spanish discount supermarket chain, has said that the sale of its subsidiary DIA France to French retailer Carrefour will generate a net gain of €265 million.
According to Spanish newspaper, El Pais, DIA closed the deal with Carrefour on 30 November following approval from the French competition authority.
The deal, which was originally announced in July, saw DIA receive €282.2 million for the entire share capital of DIA France and €361.5 million for repayment of intragroup debt.
DIA has been involved in several deals this year. It bought its Spanish rival El Arbol for a nominal fee of €1 while taking on its debt of approximately €150.8 million and it also acquired 160 Eroski stores valued at €146 million.
© 2014 European Supermarket Magazine – your source for the latest retail news. Article written by Nicole Gernon.
