Allen & Overy advises Uni-President on the acquisition of its majority stake in Carrefour Taiwan from the Carrefour Group

Uni-President is a food and retail conglomerate based in Taiwan with a particularly strong footprint in Asia and both Uni-President Enterprises Corporation and President Chain Store Corporation are listed on the Taiwan Stock Exchange. PresiCarre Corporation is a joint venture established by Euronext-listed Carrefour and Uni-President in 1987 that introduced hypermarkets to Taiwan under the Carrefour brand, which has proceeded to become one of the leaders in the retail sector in Taiwan, covering hypermarkets, supermarkets and online retail.

The transaction values Carrefour Taiwan at over USD2 billion enterprise value. Completion is anticipated to occur in 2023, subject to merger control approvals. After completion, Uni-President will become the sole owner of Carrefour Taiwan.

The cross-practice team advising on the transaction was led by Allen & Overy’s Hong Kong corporate partner Tess Fang, with support from the firm’s specialist IP and antitrust teams led by Nigel Parker and Noah Brumfield respectively.