carrefoursa carrefour saba-a (CARFA) Snapshot

Groupe Auchan SA is looking to acquire Turkey operations of Carrefoursa AS and Haci Omer Sabanci Holding AS’s stake in Carrefoursa, daily Sabah reported. Majid Al-Futtaim Ventures is also interested in buying stake in Carrefoursa. Groupe Auchan has already launched talks with the management of Carrefour SA and it may finalize a deal by the end of 2012, the daily said.

Carrefoursa AS announced that Haluk Dincer, the chairman of the company and head of Sabanci Holding's retail group, have resigned from the board of the company. Five French members and Kutay Kartallioglu, financial director of the company, currently hold their positions in the management of the company.

Carrefour SA is looking to exit its operations from 9 countries including Turkey, due to poor financial performance, retailnews.com.tr reported. Carrefour’s Chief Executive Officer, Georges Plassat will reportedly announce and execute exit plans following the announcement of half-year results. Haci Omer Sabanci Holding AS (Sabanci) has reportedly appointed a financial advisor to evaluate strategic options for its participation in Carrefoursa AS, a joint venture between Carrefour and Sabanci.