French retailer Carrefour has said it will increase its stake in Carrefour Colombia to 100% from 55% for an undisclosed sum.
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A 45% stake in Carrefour Colombia currently owned by Valores Bavaria and Sigla groups will be transferred to Carrefour by the end of June, reported Reuters.
Carrefour entered Colombia in 1998 and now operates nine hypermarkets across the country with net sales of €267m (US$313.5m) for 2002. The company plans to open two or three new hypermarkets in Colombia in 2003.
