Reuters: Carrefour could sell assets in Romania, other countries, to provide funding for core markets

Analysts quoted by Reuters expect French retailer Carrefour to sell non-core assets in countries like Romania, Turkey, Poland and Indonesia, among others, aiming to make between EUR 1 and EUR 3 billion from the sale. This could fund the revival plan of its remaining European hypermarkets.

Britain's Tesco, France's Auchan and U.S. Wal-Mart are seen as potential buyers of eastern Europe assets. "Its central and eastern European assets could represent a great opportunity for Auchan, an operator who is well established in Russia, Poland and Romania," said Milos Ryba, an analyst at research firm PlanetRetail, quoted by Reuters. Carrefour's exit from Romania was previously rumored, with Tesco expected to take over. However, Carrefour continued its development in Romania, where it runs 25 hypermarkets, 57 supermarkets and five proximity stores. French retailer Carrefour saw its turnover up 6.6 percent in the first quarter of this year in Romania, to EUR 277 million, a similar level to the Turkish market. The increase was due to the newly opened units, as the like-for-like evolution revealed a drop in sales of 3.3 percent, according to the retailer’s latest financial report. Carrefour ended 2011 with a EUR 1.1 billion turnover in Romania, similarly to 2008, when it had fewer stores. The full Reuters story here. editor@romania-insider.com