Carrefour to Spin Off Real Estate

Carrefour on Wednesday announced plans to spin off its real estate holdings into a separately listed company.

PARIS — Carrefour here on Wednesday announced plans to spin off its real estate holdings into a separately listed company. About 60% of its real estate holdings, including stores, shopping centers and development sites located in France, Spain and Italy, would be spun into a separate company, Carrefour Property, in 2008. Around $4 billion of the estimated $27 billion portfolio would be available to shareholders, Carrefour said. The move comes after some investors had pressured the company to sell its real estate.

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