FTC approves Carrefour-Wellcome merger plan
12/10/2020 01:04 PM
CNA file photo
Taipei, Dec. 10 (CNA) Taiwan s Fair Trade Commission (FTC) on Wednesday conditionally approved an application by Carrefour SA to acquire Wellcome Taiwan Co., on the grounds that the deal will create greater economic benefits than disadvantages to consumers as a whole.
Carrefour SA announced in June that it would acquire Wellcome Taiwan Co. for 97 million euros, and have all the Wellcome supermarkets and Jasons Market Place premises across Taiwan under its banner within 12 months of closing the deal.
The France-based hypermarket chain made a deal with Hong Kong-based Dairy Farm International Holdings, a retail company that launched Wellcome Taiwan in 1987.
2020/12/09 20:26 A Wellcome supermarket in Taiwan A Wellcome supermarket in Taiwan (CNA photo) TAIPEI (Taiwan News) French supermarket giant Carrefour received conditional approval Wednesday (Dec. 9) from the government’s Fair Trade Commission (FTC) to take control of the Wellcome supermarket chain in Taiwan. Carrefour announced in June it would pay €97 million (US$117 million) to take over all 199 Wellcome and 25 JASONS Market Place stores in Taiwan by the end of the year. The FTC said in its ruling that the merger would provide consumers with lower prices and more convenience but nevertheless voiced concern for the interests of small and medium-sized suppliers and for the role played by Uni-President Enterprises Corporation, which owns 40 percent of Carrefour Taiwan shares, CNA reported.