Allen & Overy and Chen & Lin Attorneys-at-Law are advising Uni-President Enterprises and President Chain Store Corporation on the acquisition of 60 percent stake in the Taiwan business of Carrefour, which is being represented by Clifford Chance.

Uni-President is a Taiwan-headquartered food and retail conglomerate listed on the Taiwan Stock Exchange.

The transaction, which values Carrefour Taiwan at an enterprise value of 2 billion euro ($2.03 billion), is set to be completed by mid-2023, Reuters reported, adding that retailer last year launched talks to shed its operations in the Asian market.

The A&O team is being led by partner Tess Fang, supported by partners Nigel Parker and Noah Brumfield.