KLPEF Klepierre SA (PK)

By David Pearson 

PARIS--French retailer Carrefour SA on Wednesday said it completed the creation of Carmila, the real-estate vehicle whose role will be to enhance the value of the shopping centers next to Carrefour hypermarkets.

Carmila owns a portfolio of 171 shopping malls valued at EUR2.7 billion. These include 126 that Carrefour has bought from French real-estate firm Klépierre for a market value of EUR2 billion, and another 45 that are being transferred from Carrefour's ownership with a market value of EUR700 million.

Carrefour will own 42% of Carmila, alongside a variety of international investors.

Write to David Pearson at david.pearson@wsj.com

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