Carrefour has signed an agreement to acquire a 98.5% stake in France’s Cross Systems Company with two companies, Annapurna and Nubie.
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The French retailer said that the move would allow it to acquire real estate assets, including a mall shopping centre that the company will take control of in a matter of weeks.
Carrefour will pay a total of EUR4.6m (US$6.5m) for its stake in the company.
“This acquisition is part of the development of the real estate holdings of Group Carrefour,” the company said.
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