China: Legal tussle between Carrefour and Suning over takeover deal

Featured image of the article China: Legal tussle between Carrefour and Suning over takeover deal

An article by Sophie Baqué

Publication

19 October 2023 à 19h42

Updated on 10 November 2023 à 16h23

Reading time

2 minutes

Publication: 19 October 2023 à 19h42, Updated on 10 November 2023 à 16h23

Reading time: 2 minutes

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Four years after their takeover by Suning.com, there's not much left of Carrefour's former Chinese supermarkets. Although a Hong Kong court ordered Suning to pay Carrefour US$134 million, it is contesting the decision and intends to continue legal action

An article by Sophie Baqué

Publication

19 October 2023 à 19h42

Updated on 10 November 2023 à 16h23

Reading time

2 minutes

Publication: 19 October 2023 à 19h42, Updated on 10 November 2023 à 16h23

Reading time: 2 minutes

Share
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Add to reading list Remove from reading list
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Empty shelves, non-payment of suppliers, closed hypermarkets, customers demanding reimbursement of their prepaid cards… Four years after a takeover by Suning.com, Carrefour’s former Chinese stores are in crisis. In the 2nd quarter 2023, 73 units closed and the fate of the remaining 41 stores is uncertain.

According to the Financial Times, Carrefour is engaged in a legal tug-of-war with the Chinese conglomerate Suning, of which Alibaba is a shareholder. In 2019, Suning.com acquired an 80%...

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Featured image of the article Sophie Baqué
Sophie Baqué
Featured image of the article Sophie Baqué
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