Carrefour Reaffirms Asia Commitment With Baolongcang Buy

Unsurprisingly, given BMI's forecast of double-digit annual mass grocery retail (MGR) sales growth over the 2010-2014 period, French retail giant Carrefour has confirmed that its first Chinese store closure is not illustrative of plans to scale back investment in the country. The French retailer made its commitment clear via the acquisition of a controlling 51% stake in Hebei-based hypermarket operator Baolongcang for an undisclosed sum.

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