French retail giant Carrefour is reported to be planning to open two or three supermarkets in Beijing next year through a joint venture to be set up with Beijing Shoulian Group.
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Carrefour has signed a letter of intent with the Beijing company to set up a joint venture with a total investment of more than 100m yuan (US$12m), with the French company aiming to control an approximate 65% share, reported Xinhua Financial Network quoting the Beijing Business Today.
Meanwhile in France it has been reported that French auto service operator Feu Vert is planning to buy Carrefour’s 55 autocentres. Feu Vert, which has a network of 250 auto service centres in France, is 62% owned by French holding company Groupe Monnoyeur, while the remaining 38% is held by French supermarket group Casino. The company also operates 60 auto service centres in Spain and five in Poland, reported the French News Digest.
