Carrefour and Trans Corp announce they have concluded a strategic partnership agreement aimed at accelerating Carrefour's growth and development in Indonesia.

Under the agreement, Trans Corp is acquiring 40% of PT Carrefour Indonesia, with Carrefour Group retaining a controlling 60% stake. Trans Corp is the holding company of Para Group’s media, lifestyle and family entertainment businesses.

The partnership will generate operational synergies with Para Group businesses, particularly in financial services (banking, insurance, consumer finance), media, lifestyle and family entertainment.

Carrefour Indonesia started operations in 1998 and now operates 79 stores (63 hypermarkets, 16 supermarkets) in 22 cities. 2009 gross turnover amounted to €890m for 12,000 employees and Carrefour Indonesia works with thousands of suppliers, including many SMEs across Indonesia. Carrefour plans to open 13 new stores in 2010.

Para Group is one of the fastest-growing Indonesian groups.  Founded by Chairul Tanjung, the Group provides financial services through more than 800 branches and operates over 300 retail stores.  In addition, Para Group runs two of Indonesia’s leading national TV stations, Trans TV and Trans 7, and recently opened Trans Studio, a world class indoor theme park in Makassar.  Para Group’s businesses employ more than 40,000 people across Indonesia.

The Carrefour Group is the biggest retailer in Europe, and the second largest worldwide, with more than 15.500 stores under banner in 32 countries and more than 475,000 employees. For over forty years, Carrefour has been a partner in the day–to–day lives of more than twenty million customers in Europe, Asia and Latin America. The Group combines different store formats - hypermarkets, supermarkets, hard discount, convenience stores and cash & carry outlets.

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