French distributor Auchan, with the aim of reducing its debt, has sold its subsidiary Chinese subsidiary, SunArt, to Alibaba for 3,000 million euros. SunArt had a turnover of between 12 and 12.5 million euros last year. It now has 484 hypermarkets and a workforce of 150,000 employees.

The money obtained will be invested in expediting the reduction of Auchan's debt, which is set at about 6,000 million euros.

Image upload

Similar Articles

Similar Bookmarks

Connected Bookmarks