Majid Al Futtaim, Carrefour's franchisee in the Middle East and north Africa, is reported to be in advanced talks to buy two Egyptian retail chains.

According to Reuters, the Dubai retailer has completed due diligence on a deal that would see it acquire the Metro supermarket chain and discount grocery store Kheir Zaman from the Mansour Group.

Metro operates around 40 outlets, making it one of Egypt's biggest supermarket chains. The Kheir Zaman discount grocery brand operates around 30 stores across the country.

Both companies have agreed to go ahead with the deal and some minor details are now being cleared, sources told the publication.

Neither Majid Al Futtaim nor Mansour Group could not be reached for comment.