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FINANCIAL NEWS
Qatar’s Al Meera, Casino enter in a JV
01 Feb 2012
(MENAFN) Qatar’s Al Meera Holding Company signed a joint venture deal with French retail giant Casino Guichard-Perrachon to manage proposed retail partnerships, Arabian Business reported.
The Casino Group is one of the world’s leading food retailers, with USD38.26 billion in consolidated net sales and 11,663 stores worldwide.
The joint venture will be registered under the name ALGE Retail Corporation, and will be base din Geneva, Switzerland, and will initially manage projects in Tunisia, Libya, Egypt and Jordan, according to the statement.
Al Meera will own a 51 percent share in the new entity, while Casino will hold the remaining 49 percent.
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