Coudert Brothers Assists Carrefour Restructuring

International law firm Coudert Brothers has advised Carrefour, the world s second-largest retailer, with its restructuring and reorganization of investments and business in China.

 

The three-year restructuring involved approvals from national and local authorities. According to Jingzhou Tao, Managing Partner of Coudert Brothers China Practice, the restructuring was finalized in early 2004.

 

In early November 2000, an investigation team led by the former State Economic and Trade Commission and Ministry of Foreign Trade and Economic Cooperation (the Investigation Team) implemented an investigative survey on Carrefour s investments and business in China.

 

In April 2001, the Investigation Team requested Carrefour restructure and reorganize their overall business in China, which included the 27 hypermarkets and 13 companies that Carrefour had directly and indirectly invested and incorporated in within the 16 major cities in China.

 

In October 2001, the Investigation Team approved the general plan for Carrefours restructuring in China, permitting Carrefour to continue their restructuring.