Dubai's Majid Al Futtaim buys Retail Arabia’s Geant Stores in Kuwait, Bahrain, UAE
2017-07-01 - 3:39 ص
Bahrain Mirror - Reuters: Dubai's Majid Al Futtaim , the Middle East operator of French retailer Carrefour, has acquired 26 Geant hypermarket stores in the United Arab Emirates, Bahrain and Kuwait from BMA International.
Majid Al Futtaim, a holding company which also owns and operates shopping centres in the Middle East and North Africa, said in a statement it was acquiring the Geant franchise owner Retail Arabia from BMA International.
The value of the deal, which also includes four Gulfmart supermarkets in Bahrain, was not disclosed.
The number of Majid Al Futtaim Carrefour-operated outlets will increase to 80 stores in the UAE, 11 in Bahrain and 8 in Kuwait following the acquisition.
The supermarket stores acquired from Retail Arabia will all be rebranded under Carrefour and existing employees will be retained, Majid Al Futtaim said.
التعليقات المنشورة لا تعبر بالضرورة عن رأي الموقع
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