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Carrefour has confirmed that it will take a 51% stake in Baolongcang, a growing
food retailer in the Hebei region. The move, which has been anticipated for a
few months (see
NamNews story),
will see the chain’s founders retaining a 49% stake.
Baolongcang operates 11
hypermarkets, and last year recorded sales of 1.06bn yuan (E113m). The deal has
been approved by local competition authorities. Carrefour already operates
156 hypermarkets and 360 hard discount stores in the country.
NamNews - Friday 16th July 2010
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CHINA: Carrefour Picks Up Controlling Stake In Baolongcang Hypermarkets
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