The FINANCIAL — Carrefour announces the disposal of a 60% stake in its Market Pay payments platform to AnaCap Financial Partners, a specialist investor in European financial services, in order to accelerate its development and diversification.
This all-cash transaction values Market Pay at an enterprise value of c.300 million euros.
Developed by Carrefour teams since in 2016, Market Pay is a European payments platform designed to support the Group’s omnichannel retail operations in its various geographies. It handles 1.3 billion transactions per year and manages 45,000 payment terminals and 5 million cards. It provides end-to-end support for physical points of sale and e-tailers in the deployment of innovative and simplified payment solutions. Market Pay has experienced strong and continuous growth since its inception. In 2020, Market Pay expects to post net sales of over 30 million euros.
Through this ambitious and balanced partnership, Carrefour is seeking to capitalize on AnaCap’s deep expertise in the sector and 15-year track record in growing and developing businesses to enable Market Pay to continue its development, diversify its activities and accelerate its transformation to support innovation projects at Carrefour as well as for its other customers and prospects.
This transaction will result in the recognition of a capital gain of 245 million euros* in the Group’s accounts.
The transaction is subject to information and consultation of employee representative bodies and to the usual closing conditions (regulatory authorizations and approval by competition authorities). The transaction is expected to close in the first half of 2021.