Casino buys Carrefour Thailand for $1.18 billion

Groupe Casino affiliate Big C significantly strengthens its Thai presence with the acquisition of Carrefour's business in the country.

Big C, an affiliate of Groupe Casino also known as Casino Guichard-Perrachon, will buy Carrefour’s businesses in Thailand for Bt35.5 billion $1.18 billion.

Carrefour’s Thai business, which comprises 34 hypermarkets, eight supermarkets and 37 shopping centres, generated sales of Bt30 billion in 2010. The valuation achieved translates into 13 times Ebitda of the business being sold, Carrefour said in a written statement released yesterday.

The deal has been struck at a 2010 enterprise value-to-Ebitda multiple of...

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