French hypermarket operator Carrefour is planning to sell equity stakes in some of its European schemes outside France, and is talking to a shortlist of potential investors.
The company is not thought to be looking to do straightforward sale and leasebacks: the plan is to retain partial ownership of the properties, but to raise cash for further expansion. It hopes to conclude the first deal by the end of the year.
Carrefour operates 324 hypermarkets in Europe, south America and the Far East. In Spain, it has 56 stores operating under the Pryca banner; in Portugal it has four Carrefour hypermarkets; in Italy it has six stores; in Poland it has opened one hypermarket; and in the Czech Republic, it is opening its first Carrefour in Pilzen.
The company is also planning to build a 50,000 m2 scheme in Prague, in a joint venture with Sari International. The development will comprise a 20,000 m2 Carrefour hypermarket and a 30,000 m2 mall.
