Advising Carrefour and the partners of Cargo (including Crédit Agricole Assurances and primonial Capimmo) on the signing agreements to sell the entire share capital of Cargo Property Assets to Argan, a listed property company specializing in logistics real estate with 22 premium logistics platform in France, approximately 1 100 000 sq.m rented to carrefour and with a valuation of € 900M.
Cargo Property Assets, founded in 2016, is dedicated to the Group’s logistics real estate in France. The company, which is 32% owned by Carrefour group, alongside co-investor partners, owns about one-third of the Group’s distribution centers in France. Carrefour manages Cargo and is its leading shareholder. The transaction would be based on a valuation of the real estate assets held by Cargo Property Assets of 900 million euros, transfer tax excluded.