Apresentação do trabalho elaborado no âmbito da cadeira de Negociação da Licenciatura em Marketing da Universidade da Beira Interior. 2008

1. University of Beira Interior
Management and Economics Department
2007/2008
Marketing Graduation – 2nd year
Negotiation of Process:
Acquisition of Portuguese
Carrefour by Sonae group
Work accomplished by:
Claúdia Leal
Maria Pires

2. Outline:
 Presentations of the Carrefour Group and Sonae
 Objectives and strategies:
• Sonae
• Carrefour
 Integrative negotiation
 5 C`s
 Dual model of concerns
 Games theory
• Decision tree
• Payoffs Matrix
 Conclusions

3. Companies's Presentation
Carrefour Group Sonae
 The Carrefour group is a • Sonae is one of the biggest
business retail store of economic Portuguese groups
apportionment founded into
France; which activities are taken
care by five sub-holdings,
 Biggest worldwide network and among that the Modelo
the first in Europe; Continente (Sonae
Distribuição);
 Splits up into four important
areas:hypermarkets,
supermarkets, hard discount • The Modelo Continente is the
and convenience stores; market leader in Portugal;
 The group is in Portugal for • Modelo holds six brands that
about sixteen years but never have mention positions in
afforded to reach its aims: being
leader on the market their respective market
segments from specialized
retail.

4. Objective and strategy of Sonae
 Aim: to grow and to reinforce the leadership by
acquiring new commercial units in the market;
 Strategy: acquire all opportunities that exist on the
market for to achieve your objective.

5. Objective and Strategy of Carrefour
Aim: to assure market
leadership;
Strategy: bet on the
strengthening of the bunch
through the positioning into
direct marketplaces in order to
exercise their strength in the
international market;
When the group reaches the
conclusion that they wont
achive their specific objectives
for a given location their
course of action is to relocate
to more suitable countries
where they can have a more
dominate position. Source: APED (Portuguese Association the enterprises
of distribution)

6. 5 C`s Confrontation
On the June of 2007, the interlocutors
of the two groups, in simultaneous,
In this process deal, we didn’t have discover that their interests among
access to all the necessary proposals and counterproposals
information. We’ve estimated the
following: were similar, therefore, there is the
possibility of an agreement amongst
Consultation themselves.
In January of 2007 the Sonae
collected information, evaluated Conciliation
the potential of the purchase, the
position of the Carrefour in the On the 27th of July, 2007, an
market and defined its initial agreement was made for the
edges purchase valued 662 million Euros
Contact Conclusion
In February of 2007, the Sonae after Completion of this transaction is
the study of the three P `s subject of the approval by Authority
(product, people and promotion), of Competition, the closing of the
which are referent to the contract is expected for January
Carrefour, enters in contact with 2008
the interlocutor of the same.

7. Integrative negotiation
 The negotiation process: Sale of the Portuguese Carrefour to the Sonae group,
relate to a process of integrative negotiation therefore, both parts benefit of the
accord.
 That is, the Carrefour earns with the business as much as Sonae.
Dual model of concerns
• The situation between these two companies
MAX- MAX MAX- MIN is of MAX-MAX (gain-gain), this means, both
Cooperate Brother the groups have collaborated between
themselves until they arrived at an accord.
MIN- MAX MIN- MIN • The reason for the collaboration is mutual
Compete Avoid interactive.

8. Theory Games - Decision tree
Payoff unity:
Sales volumes Carrefour
(14104, 662)
L
B
L (14003, 763) Optimal of Pareto
Sonae
Carrefour (7052, 0)
B L
(3526, 505)
L
Decision of tree
Sonae: Buy (B) Carrefour: Leave (L)
Don't buy (B) Don't leave (L)

9. Payoffs Matrix
Carrefour strategy
Sonae strategy
Leave Don't leave
Buy (14104, 662) (14003, 763)
Don't Buy (7052, 0) (3526, 505)
Optimal of Pareto Variables:
•This payoff (14 003, 763) is the best Sales volume of Carrefour : 505 million
situation for both. Sales volume of hard discount: 505*0.2=101
Sales volume of Sonae: 3 526 million
Transaction value: 662 million

10. Conclusions
 Sonae continues to grow specifically by acquiring new
unities, and Carrefour leaves Portugal and goes to countries
where it can operate as a leader.
 Sonae gets stronger in relation to it is clients, providers and
rivals in the market.
 Carrefour doesn't leave the market totally and continues
operating in Portugal with the brand Dia and Minipreço.
 We consider that this is a great deal to both sides, because
Carrefour leaves the market and relocates to more
profitable regions, and Sonae grows in the Portuguese
market.

11. Conclusions
The goals of our work have been reached, with
some limitations, particularly in the elaboration of
the 5 C`s mainly because of the lack of information
that was given to us, based on the confidentially of
the same.
Another point, that we cannot grant an
application, is the definition of the negotiation
amplitude, therefore we only have reference to the
value of the non present transaction and the reserve
price, maximum and minimum, acceptable for the
purchaser and the salesman.