In order to comply with a ruling by the French Competition Authority, the world’s second largest retailer Carrefour has sold a hypermarket in Villetaneuse, a northern suburb of Paris, the privately held rival supermarket group Auchan.
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In accordance with the ruling, made after Carrefour’s acquisition of the Promodès group last year, the retail giant has yet to divest three hypermarkets and 12 supermarkets.
No financial details of this latest deal were disclosed.
Carrefour also revealed expansion plans, meanwhile, with the planned opening of its largest Japanese outlet in Osaka by the autumn of 2003. The store will be the core building of a large commercial facility to be developed in Minoo.
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By GlobalData
