FTC conditionally approves Carrefour-Wellcome plan
Staff writer, with CNA
The Fair Trade Commission (FTC) on Wednesday conditionally approved an application by Carrefour SA to acquire Wellcome Taiwan Co (惠康百貨), saying the deal would create greater economic benefits than disadvantages to consumers as a whole.
Carrefour in June announced that it would acquire Wellcome Taiwan for 97 million euros (US$117.54 million), and have all the Wellcome supermarkets and Jasons Market Place premises across the nation 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 Ltd, a retailer that launched Wellcome Taiwan in 1987.