Core Viewpoint - The long-standing equity dispute between Suning and Carrefour has been resolved, with Suning agreeing to pay 220 million yuan to settle all outstanding issues related to the acquisition of Carrefour's shares and associated debts [1][4]. Group 1: Settlement Details - Suning will pay a one-time cash settlement of 220 million yuan to Carrefour, which will waive all remaining equity payments, intellectual property fees, arbitration costs, and interest [1][4]. - Following the settlement, both parties will withdraw all lawsuits and terminate ongoing arbitration processes, and Carrefour must cease using its brand and related intellectual property in China within a month [4]. Group 2: Historical Context - The dispute originated from a 2019 agreement where Suning acquired 80% of Carrefour China for 4.8 billion yuan, with an option to purchase the remaining 20% two years later [6][8]. - Carrefour's operational decline in China, coupled with Suning's liquidity issues, led to the failure to complete the remaining equity transaction, resulting in escalating tensions and legal actions [8][9]. Group 3: Carrefour's Market Position - Carrefour was once a dominant player in the Chinese retail market, opening its first store in 1995 and rapidly expanding across major cities [9][11]. - However, Carrefour's market share declined significantly due to increased competition from local retailers and the rise of e-commerce, leading to its eventual sale to Suning in 2019 [11][12]. - The brand's presence in China has now officially ended, with remaining stores rebranding and Carrefour's operations in the country ceasing [5][12].
2.2亿和解,中国再无“家乐福”