FRANCE/SPAIN: Carrefour to buy remaining shares in its Spanish unit
Carrefour, the world's second largest grocery company is set to buy the remainder of its Spanish unit, of which it already owns 79.7%. The French retailer will buy the remaining 20.3% for a total of €920m (US$904m) as part of its expansion in Europe. In the last two years, Carrefour has made acquisitions in Belgium and Italy. Buying the remainder of the Spanish unit, Centros Comerciales Carrefour, is seen as the next logical step. Spain is Carrefour's largest market after France and accounts for around 15% of revenue.
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