French retailer Carrefour has struck a deal to sell its Colombian business to Chilean group Cencosud in an agreement valued at EUR2bn (US$3.2bn).

The company said that the transaction was "in line" with its strategy to focus on geographies in which it "holds or aims to develop a leading position".

Carrefour operates 72 hypermarkets, 16 convenience stores and four cash and carry outlets in the country, representing net sales excluding fuel of EUR1.5bn.

The transaction should be effective by the end of 2012, the company said.