By George MacDonald2019-06-24T10:03:00
Carrefour has become the latest big Western retailer to beat the retreat in China after agreeing to sell its business there.
The French giant offloaded 80% of its Chinese division to Suning.com, in a deal valued at €1.4bn.
Carrefour launched in China in 1995 and has 210 hypermarkets and 24 convenience stores there. However, last year it only generated EBITDA of €66m on sales of €3.6bn.
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