According to Cinco Días, the company has closed the transfer of 47 Supercor shops, its chain of neighbourhood supermarkets, to Carrefour for €60 million. The operation is pending approval from the Competition Authority. According to the company, these are stores considered non-strategic within the direction it wants to give to its food distribution business.
These 47 stores represent 25% of its Supercor network in Spain, which had 189 shops as of 28 February this year, the company’s year-end closing date.
Pablo Enrile (corporate M&A partner), Natalia Callejo (real estate partner), and the corporate and real estate associates (Francisco de Almeida and Clara González-Páramo) led the transaction, which is still pending approval by the competition authorities.
Jaime Peiro and Daniel Mariño (partner and associate in the tax area), Francisco Cantos and Mariam Garcés (partner and associate in the competition area) and José Maria Fernandez-Mota and Luis Sánchez Quiñones (partner and senior associate in the labour and employment area) also participated in the transaction.
Clifford Chance has advised leading retailer Carrefour on the execution of an agreement for the acquisition of 47 SuperCor supermarkets and convenience stores from El Corte Inglés in Spain. The transaction includes supermarkets and convenience stores located in the regions of Madrid, Catalonia, Andalucía and Comunidad Valenciana. The Clifford Chance team advising on the transaction was led by Spanish Real Estate partner Carlos Portocarrero (left), together with Corporate/M&A counsel Samuel Rosas (top right) and Corporate/M&A associate María Vilar (bottom right).