Suning.com acquires 80% stake in Carrefour China for $673m

Suning.com acquires 80% stake in Carrefour China for $673m

Existing Suning.com Plaza in Nanjing, China. Source: Suning.com

Suning.com announced on Friday that it has completed the acquisition of an 80% stake in Carrefour China for 4.8 billion yuan ($673.15 million), as the company continues to accelerate the expansion of its brick-and-mortar portfolio to build an online-to-offline (O2O) retail business.

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