BRITISH retailer Tesco will take over control of all four commercial outlets of French supermarket chain Carrefour in Slovakia, along with 11 Carrefour outlets in the Czech Republic, the TASR news agency wrote.
At the same time, Carrefour will take over Tesco's six supermarkets and two department stores in Taiwan. In addition, Tesco will pay Carrefour €57.5 million.
General Manager of Tesco Stores in Slovakia Philip J. Clarke said "the contract represents a positive long-term decision for Tesco".
However, the companies are still awaiting approval for the transaction from the regulatory authorities.
Tesco entered the Slovak market in 1996, and is currently running five department stores and 28 hypermarkets. With 7,500 staff, it has become one the biggest employers in Slovakia.
Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
3. Oct 2005 at 10:26