Auchan Retail Ukraine sells 20% of shares in Furshet retail chain
Auchan Retail Ukraine, part of France's Auchan Group managing the Auchan hypermarket chain in Ukraine, has sold a 20% stake in the Furshet supermarket chain in Ukraine to VI2 Partners Investment Company.
"The decision is in line with the global strategy of Auchan Retail Ukraine envisaging the development of the multi-formats under the unified brand. The recent purchase of Karavan stores that would gradually switch to the Auchan brand, is direct proof to this," the press service of Auchan Retail Ukraine said on Thursday.
The sum of the deal is not disclosed.
Auchan and Ukrainian Furshet retail group signed a partnership agreement in 2007.
The agreement said that Auchan will buy 20% of shares in Furshet.
At the moment of the deal Furshet was the second largest retail chain in Ukraine with 58 supermarkets.
The Furshet supermarket chain as of October 12, 2017 had 81 stores in all regions of Ukraine.
As reported, in June 2017, Auchan Retail Ukraine said that the company signed an agreement with the Ukrainian distributor Karavan on the purchase of its assets, including nine hypermarkets in Ukraine, which employ 3,300 people.
The total area of Karavan hypermarkets is 58,000 square meters.
Auchan Retail is part of Auchan Holding. The holding is present in 17 countries. It consists of three enterprises: Auchan Retail, Immochan and Oney Banque.