xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Company

Suning completes acquisition of 80 pct stake in Carrefour China

September 27, 2019


Abstract : Chinese retailer Suning.com announced on Friday that its wholly-owned subsidiary Suning International Group Co., Ltd has completed the acquisition of an 80 percent stake in French supermarket giant Carrefour China on Thursday.

BEIJING, Sept. 27 (Xinhua) – Chinese retailer Suning.com announced on Friday that its wholly-owned subsidiary Suning International Group Co., Ltd has completed the acquisition of an 80 percent stake in Carrefour China on Thursday.

After the completion of the transaction, Suning.com could further enrich the layout of its smart retail scenario, accelerate the development of its offline retail business and enhance the company's market competitiveness.

In late August, Suning.com gained approval from China's State Administration for Market Regulation to acquire an 80 percent stake in Carrefour China for 4.8 billion yuan.

The Nanjing-headquartered Suning.com owns one of China's leading e-commerce platforms with more than 400 million users and has opened 8,881 stores in China by the end of last year. The retailer saw its net profit increase 216.2 percent in 2018 to 13.3 billion yuan, thanks to soaring online consumption. (Edited by Yang Yifan, [email protected])

Scan the QR code and push it to your mobile phone

Keyword: Suning.com

Reading:

Teamviewer has mixed start on the stock exchange - high issue proceeds

Copyright services platform, artwork bonded service center launched in Shanghai FTZ

Chinese e-commerce will be worth 2 trillion dollars by this year

Xinhua Credit rolls out English version

Eataly, the Suning platform option to land on the Chinese market

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial