Скачать или смотреть Uni-President Group to acquire full ownership of Carrefour Taiwan for NT$29 billion

On Tuesday night, Uni-President announced it will take full ownership of Carrefour Taiwan. The company, which already holds a 40% stake in the hypermarket chain, will purchase the remaining 60% from the French parent company for NT$29 billion. The transaction will make Carrefour Taiwan a fully Taiwan-owned enterprise, as long as the Fair Trade Commission approves the sale. The deal could be completed as early as mid-2023.

Chen Kuo-hui
Uni-President chief financial officer
Today Uni-President Enterprises Corporation and President Chain Store Corporation approved a resolution through their board of directors to acquire equity stake in Carrefour Taiwan.

On late Tuesday evening, Uni-President dropped a bombshell announcement that it will take full ownership of Carrefour Taiwan for NT$29 billion. The deal comes days after competitor PX Mart was given the green light to acquire hypermarket operator RT-Mart. The deals mean major changes to Taiwan’s retail sector.

Guo Ruey-shan
NTU Business Administration Dept.
The lines between companies in the distribution industry are blurring. They all want to grow their presence. The distribution industry has always benefited from the economies of scale, so mergers are the fastest way to do that.

Carrefour Taiwan entered the Taiwan market 34 years ago, aided by Uni-President founder Kao Ching-yuen. At the time, Carrefour held 60% equity stake, with Uni-President holding the remaining 40%. The French company said that if it ever decided to leave Taiwan, Uni-President would be given priority to purchase its stake.

Reports that Carrefour was planning to pull out of Taiwan had been circulating for some time, with Far Eastern Group, Fubon Group, PX Mart and Cathay Group’s Tsai Cheng-yu all expressing interest in acquiring the company. In the end, Uni-President got the deal, purchasing all of the remaining 60% equity stake for NT$65 per share, turning Carrefour Taiwan from a French company into a fully Taiwan-owned company.

PX Mart’s purchase of RT-Mart was given approval by the Fair Trade Commission, but with some conditions attached. Now, the Carrefour deal will also have to go through the Fair Trade Commission. The transaction could be completed as early as mid-2023.

Chen Chih-min
Fair Trade Commission spokesperson
The commission will review whether the acquisition by Uni-President can be fulfilled with fair supply conditions, to prevent the blocking of suppliers within the distribution industry.

Guo Ruey-shan
NTU Business Administration Dept.
Traditionally, PX Mart did fresh food. But after establishing itself in urban areas, it acquired RT-Mart. Its market power is very big. So of course it could be a threat for Uni-President.

A major changeup is coming to Taiwan’s retail market, but who will come out on top is already a foregone conclusion. Uni-President operates more than 6,600 shops, to which it will add 340 Carrefour outlets. Meanwhile, PX Mart has 1,057 shops, to which it is incorporating 22 RT-Mart outlets. With both leading retailers continuing to grow, it remains to be seen whether their expansion will have any impact on consumer habits and on small-and-medium sized enterprises in the sector.