Mideast venture partner to buy out Carrefour's interest

05/22/2013 | Wall Street Journal, The

France-based retailer Carrefour will sell its 25% interest in its Middle Eastern joint venture to partner Majid Al Futtaim Holding for $686 million, in a move aimed at freeing up cash for expansion in key markets including Europe, China and Brazil. The partnership was launched in 1995 and operates 50 hypermarkets and 44 supermarkets in the Middle East, North Africa and Central Asia.

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