Uni-President Group to acquire full ownership of Carrefour Taiwan for NT$29 billion

Uni-President Group to acquire full ownership of Carrefour Taiwan for NT$29 billion

2022-07-20

On Tuesday night, Uni-President announced it will take full ownership of Carrefour Taiwan. The company, which already holds a 40% stake in the hypermarket chain, will purchase the remaining 60% from the French parent company for NT$29 billion. The transaction will make Carrefour Taiwan a fully Taiwan-owned enterprise, as long as the Fair Trade Commission approves the sale. The deal could be completed as early as mid-2023.

Chen Kuo-hui
Uni-President chief financial officer
Today Uni-President Enterprises Corporation and President Chain Store Corporation approved a resolution through their board of directors to acquire equity stake in Carrefour Taiwan.

On late Tuesday evening, Uni-President dropped a bombshell announcement that it will take full ownership of Carrefour Taiwan for NT$29 billion. The deal comes days after competitor PX Mart was given the green light to acquire hypermarket operator RT-Mart. The deals mean major changes to Taiwan’s retail sector.

Guo Ruey-shan
NTU Business Administration Dept.
The lines between companies in the distribution industry are blurring. They all want to grow their presence. The distribution industry has always benefited from the economies of scale, so mergers are the fastest way to do that.

Carrefour Taiwan entered the Taiwan market 34 years ago, aided by Uni-President founder Kao Ching-yuen. At the time, Carrefour held 60% equity stake, with Uni-President holding the remaining 40%. The French company said that if it ever decided to leave Taiwan, Uni-President would be given priority to purchase its stake.

Reports that Carrefour was planning to pull out of Taiwan had been circulating for some time, with Far Eastern Group, Fubon Group, PX Mart and Cathay Group’s Tsai Cheng-yu all expressing interest in acquiring the company. In the end, Uni-President got the deal, purchasing all of the remaining 60% equity stake for NT$65 per share, turning Carrefour Taiwan from a French company into a fully Taiwan-owned company.

PX Mart’s purchase of RT-Mart was given approval by the Fair Trade Commission, but with some conditions attached. Now, the Carrefour deal will also have to go through the Fair Trade Commission. The transaction could be completed as early as mid-2023.

Chen Chih-min
Fair Trade Commission spokesperson
The commission will review whether the acquisition by Uni-President can be fulfilled with fair supply conditions, to prevent the blocking of suppliers within the distribution industry.

Guo Ruey-shan
NTU Business Administration Dept.
Traditionally, PX Mart did fresh food. But after establishing itself in urban areas, it acquired RT-Mart. Its market power is very big. So of course it could be a threat for Uni-President.

A major changeup is coming to Taiwan’s retail market, but who will come out on top is already a foregone conclusion. Uni-President operates more than 6,600 shops, to which it will add 340 Carrefour outlets. Meanwhile, PX Mart has 1,057 shops, to which it is incorporating 22 RT-Mart outlets. With both leading retailers continuing to grow, it remains to be seen whether their expansion will have any impact on consumer habits and on small-and-medium sized enterprises in the sector.

穩坐零售業霸主! 統一290億收購台灣家樂福

2022-07-20

繼全聯吃下大潤發後，統一集團也在昨天(19號)深夜，火速宣布以新台幣290億元，併購家樂福，穩坐零售業霸主地位，340家據點的家樂福正式成為台資企業，不過這項併購案還需要公平會審查，因此預計2023年年中完成交易。

[[統一財務長陳國煇]]
“統一企業跟統一超商，今天已分別經過董事會決議通過，取得台灣家福股份有限公司股權”

19號深夜，統一集團臨時拋出震撼彈，宣布以新台幣290億元，正式收購台灣家樂福所有股權，這也是繼全聯併購大潤發之後，零售市場又重新洗牌。

[[台大工商管理學系教授郭瑞祥]]
“每一個流通的產業，他們都在模糊化，都要擴張自己的產業版圖，那麼在這個流通產業，一向都有規模經濟的這種優勢，所以併購是最快的方法”

事實上，台灣家樂福在34年前成立，由統一創辦人高清愿引進，當時法方持股6成，統一集團掌握4成股權，當初承諾法商若要撤出台灣，統一有優先承購權，

因此家樂福傳撤出台灣，儘管遠東集團、富邦、全聯、國泰集團蔡鎮宇都有興趣，最終還是由統一集團以每股65元買下6成股份，讓家樂福從法商變成百分百台資企業，

而對照超市龍頭全聯拿下大潤發後，公平會有條件通過併購，現在統一拿下家樂福，也需要公平會審查，因此最快在2023年的年中完成交易。

[[公平會發言人陳志民]]
“未來有沒有可能統一在收購結合以後，透過這些公平的供貨契約條款，來排除跟封鎖供貨市場，跟通路市場之間的競爭”

[[台大工商管理學系教授郭瑞祥]]
“傳統上全聯是在做這個生鮮，但是因為它市區化之後，它開始併購了這個整個大潤發，它的市場力道是很大的，所以這個當然對統一來講是一個威脅”

國內零售業大洗牌，雙強對立局面成為定局其中統一有超過6600家門市和家樂福的340個據點，全聯則是1057家門市加大潤發22個據點，市場規模大者恆大、會不會進一步壓縮中小型通路的空間，甚至改變消費型態，是未來觀察重點。

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Japanese designer Asao Tokolo opens his first ever exhibition in Taiwan

Taiwan is hosting its first exhibition by celebrated Japanese artist Asao Tokolo. The artist is best known for designing the 2020 Tokyo Olympics emblem. But he’’s renowned as a pattern pioneer worldwide. The designer and educator has been working with the theme "connection" for decades, and the work in his new show is no exception. Visitors can even contribute to its most unforgettable scene, by adding a small piece of origami to the work. We caught up with Tokolo to hear more of what "connection" means to him.

Over 1,000 paper cranes strung together to create a sea of birds. This is Tokolo’’s first exhibition in Taiwan. Visitors are invited to contribute more origami cranes to send blessings out into the world. The whole exhibition features 300 of Tokolo’’s works brought over from Japan, including the "Harmonised Chequered Emblem" designed to represent the 2020 Tokyo Olympics and Paralympics.

Asao Tokolo
Artist
The Tokyo Olympics emblem is a ring shape, and the Paralympics is the shape of an open mouth. Everyone saw the performance by the drones at the opening ceremony. They even turned the rings into balls. It all tried to express connection. For the image created by the drone performance, other designers and engineers collaborated - it was a team effort.

Tokolo graduated from the architectural school of Tokyo Zokei University in 1992. He founded his own pattern design studio in 2001 and in 2020 he designed the Olympic emblem. But surprisingly, when asked why he switched from architecture to patterns and graphic design, Tokolo names 9/11 terrorist attacks in the U.S. as his prompt.

Asao Tokolo
Artist
Vast tragedies like 9/11 represent a kind of rupture. Some people can express their feelings about a rupture like this using words, in language, or they can express some kind of wish for healing. But I’’m not someone who can express himself well in words. So it’’s through pictures that I express my wish for the world to reconnect once more.

Connection is the theme that runs through all the art in the show. Tokolo hopes the friendship between Taiwan and Japan will deepen and become more intimate as Taiwanese visitors engage with his work.

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Luxury watches replaced by cheap accessories: Retail crisis in Ximen District

We turn now to Taipei’’s trendy Ximen District, where retail is in crisis. Taiwan’’s borders are still closed to visitors from abroad, and for stores in Ximen, that’’s a real headache. Last year, a luxury watch store that had occupied a key spot in the iconic commercial district shut its doors for the last time. Now an affordable jewelry store has taken up shop in the building: a clear sign of the district’’s change in fortune.

Customers try on earrings and hair accessories in front of the mirror. This is a fantastic place for a bit of retail therapy.

You can try on a classic pose with this old-timey telephone or even a typewriter. This lounge area has become a perfect Insta photo spot. Ximen shopping district may have been hit by the pandemic, but this affordable jewelry store has set up shop in the prime spot on the first floor of Wan Nian Building.

Member of public
When I walked by here in the past, it was a watch store, or the Wan Nian Building or something. I think recently I came by and I saw it was jewelry, the kind of thing young girls would want to come and browse.

Member of public
I realized this setup was really big so I came in to have a look round.

Ximen is popular with young shoppers, and these affordable jewelry stores are aimed right at the key demographics here. But this first floor location was a high-end watchmaker for 50 years. The pandemic put paid to the watches, and the company bowed out in late 2021. You can still see faint traces of the watch store today. But the modest prices of this jewelry are incomparable to the high margins once charged on luxury products here. Does the new store pay the rent?

Chan Yu-hsin
Jewelry brand spokeswoman
Right now we believe that the pandemic is gradually receding, so it’s great to be coming in at this point in time. For example, at weekends now our average daily turnover is at least in the six digits. We are very optimistic about the future commercial potential here when the pandemic recedes.

Hsu Chia-hsin
Real estate expert
For this specific location, the market rental price for this area probably falls around NT$5,000 to NT$8,000 per ping. In reality, in this area, an affordable jewelry store probably achieves a certain standard in terms of its rate of substitution.

This real estate expert says that with all the young people shopping in Ximen, it should be possible for stores like this to keep business going smoothly. But judging by the large number of empty stores littering the area, and the lack of crowds, Ximen will be a shadow of its former self until Taiwan reopens its borders to foreign visitors.

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Former health minister campaigns at former COVID hotspot, sparking criticism

Former health minister Chen Shih-chung headed to Longshan Temple to pray for a successful campaign as he runs for Taipei mayor. The historic temple is located in Taipei’’s Wanhua District, which was a COVID hotspot during of Taiwan’’s first major COVID outbreak. Amid criticism from his competitors over the location, which Chen called a breach in COVID containment while serving as CECC head, Chen responded that using COVID as a weapon in one’’s campaign was inappropriate.

Supporters greet former health minister Chen Shih-chung as he arrives at Taipei’s historic Longshan Temple to pray for a successful mayoral race.

The temple’s president, although a member of the KMT, gifted Chen a calligraphy scroll he had written himself.

Huang Shu-wei
Longshan Temple president
As long as you’re here at Longshan Temple, we welcome you. There are no political factions here, we’re neutral.

Chen Shih-chung
DPP Taipei mayoral candidate
Many Taipei residents were very welcoming, I felt it too. Thank you all, I will do my best.

Chen kicked off his mayoral campaign right here in Taipei’s Wanhua District, a hotspot during Taiwan’s first major COVID outbreak. He was accompanied by the district’s legislator Freddy Lim. The choice of location was a reminder of the CECC’s controversial comments under Chen’s helm.

Chen Shih-chung
DPP Taipei mayoral candidate
Back when I was questioned at the Legislative Yuan, some of my word choices were probably not so accurate. If anyone had been hurt as a result, then I must also apologize most sincerely.

Chiang Wan-an
KMT Taipei mayoral candidate
Wanhua is most certainly the frontline against the spread of COVID, and certainly not a place where the disease went rampant, as the CECC and Minister Chen had said. How should Wanhua residents feel about that comment? I think the damage is already done.

The KMT candidate questioned Chen’s past comments. Taipei deputy mayor Huang Shan-shan, too, said the former minister should make amends.

Huang Shan-shan
Taipei deputy mayor
I think of course it’s commendable that the minister is willing to take back his words. But the damage has been long done. Whether the outbreak originated from Novotel or Wanhua, I think it’s still necessary that the minister make it clear to Wanhua residents.

Chen Shih-chung
DPP Taipei mayoral candidate
Any antagonism created by weaponizing the virus is not good, I think. COVID-19 isn’t a fight between people.

Chen responded to his competitors’ comments on the CECC’s past statements, saying they were inappropriate.

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Black Hawk helicopters flew across Taipei in the early morning on Wednesday, preparing for the live-fire Han Kuang military exercises in the coming week.

On ground level, the Marines were fully geared up, too. Soldiers placed red flags onto Humvees that will simulate an invasion by the Chinese military.

Facing China’s growing threat, Taiwan is sparing no effort in increasing its defense capabilities. On Tuesday, former U.S. Secretary of Defense Mark Esper offered suggestions to Taiwan during a press conference at the Ministry of Foreign Affairs.

Mark Esper (July 19)
Former US secretary of defense
That Taiwan as a country and its people are well armed, that is a nation under arms, first and foremost prepared to deter a Chinese invasion or attack of some kind. And if the Chinese invade this island, they’re going to attack everybody. And it’s going to be every man, woman and child fighting.

Emphasizing the importance of asymmetric warfare, Esper said Taiwan would have to adopt mass conscription, and have all citizens serve at least one year in the military. Some Taiwanese people seem to agree.

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If one enjoys rights in this country, then it seems that one would also be obliged to serve in military, whether you’re a man or a woman.

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A division of labor is needed to protect our country. It’s not that everyone should go to war, rifle in hand. Some can help others behind the scenes, for example, by supporting logistics or help with medical treatment and bandaging.

Lin Ying-yu
Association of Strategic Foresight
The length of conscription isn’t the point, it’s what’s being trained. What missions those being mobilized will carry out, I believe that’s more important.

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President Tsai Ing-wen on Tuesday received a high-level delegation from the European Parliament at the Presidential Office. The delegation is led by Nicola Beer, the vice president of the EU body. Beer expressed support for Taiwan, saying that the EU would stand up against any unilateral attempts to change the status quo in the Taiwan Strait. She added that decisions on the future of Taiwan should be made by the people of Taiwan.

One by one, President Tsai Ing-wen greets the members of a delegation led by European Parliament Vice President Nicola Beer. It’s a historic moment.

Tsai Ing-wen
President
As the first high-level official delegation to Taiwan from the European Parliament, your visit is exceptionally significant in deepening our bilateral relations.

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Tsai Ing-wen
President
In addition, faced with the expansion of authoritarianism, Taiwan stands on the front line in defending democracy. We are willing and able to share our experiences with the world. We also look forward to strengthening cooperation with fellow democracies so as to jointly create a resilient democratic alliance.

Nicola Beer
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Together with you, we are working for peace and stability in the region. So we stand up against any provocation or threatening of the status quo. We want to continue also having good relations with the People’s Republic of China, but let me express clearly Europe’s deep and serious concern about China moving in a direction that could unilaterally alter the status quo. This must not happen, under no circumstances, under no pretext. Only the Taiwanese people can decide on Taiwanese future. We call on the Public’s [People’s] Republic of China to refrain from its threatening gestures. We admonish China not to destroy Taiwan, but to take an active and constructive part in maintaining and securing the current status quo based on mutual and respectful dialogue.

Beer expressed solidarity with Taiwan, saying that Taiwan had the power and should be respected on the international stage.

Nicola Beer
European Parliament vice president
Expressing this wish contributing to fulfill it. This is really conviction of European Parliament. And my personal conviction as well. For peace, security and stability in the region, for Taiwan, Europe and the world.

Beer, who is from Germany, wished peace and security for the world, while stressing the EU’s strong friendship with Taiwan.

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