Discount chain does well out of Carrefour deal

DEAL: Carrefour buys DIA French subsidiary.

DIA supermarkets will make a €265 million net gain from the sale of its French subsidiary to Carrefour.

The deal, which was originally announced last July, was closed at the end of November following approval from France’s competition authority. The Spanish discount chain received €282.2 million for the entire share capital of loss-making DIA France and €361.5 million to repay inter-group debt.

DIA has been involved in several deals during 2014, acquiring its Spanish rival El Arbol for a symbolic €1 in return for taking on its debt of approximately €150.8 million.

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