Carrefour in EU mall buyout deal
Paris, January 25, 2014
France's Carrefour said it has signed a binding agreement with real estate group Klepierre to buy a portfolio of 127 shopping malls in Europe, with the deal expected to close in the first half of 2014.
The world's second largest retailer, Carrefour is operating in the Middle East and North Africa region through a joint venture with Majid Al Futtaim Group.
Carrefour said previously that the deal would cost the world's second-largest retailer 2 billion euros ($2.74 billion)and would help revive its flagging European hypermarkets.-Reuters