Suning's Latest Progress In Acquiring Carrefour: Antitrust Review Has Been Passed

On August 27th, the announcement of suning.com announced yesterday that it had received the decision of the State Administration of market supervision and administration that "no further examination of the review of the concentration of operators should be carried out". "No further examination of the Limited by Share Ltd group's acquisition of the shareholding case of Holland Carrefour China holding company" by the suning.com group. This means that suning.com's acquisition of Carrefour through antitrust review is about to enter the implementation phase.

Since the announcement of suning.com in June 23rd that it intends to invest 4 billion 800 million yuan to acquire 80% stake in Carrefour China, the acquisition has attracted much attention and has aroused heated debate in the society.

According to Carrefour's previous announcement, Carrefour China has about 30 million members, 210 large comprehensive supermarkets, 24 convenience stores and 6 warehousing distribution centers in China, covering 22 provinces and 51 large and medium-sized cities. In 2018, Carrefour's revenue in China was nearly 30 billion yuan.

The media is informed that after the completion of the acquisition, Suning will further improve the layout of the whole scene and the whole category, especially to enhance its market in the fast fading category, supply chain, talent and operational experience, and enhance market competitiveness.