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FINANCIAL NEWS
UAE-Majid Al Futtaim obtains Retail Arabia
30 Jun 2017
(MENAFN) Majid Al Futtaim proclaimed the acquisition of Retail Arabia, while the deal has been signed between Majid Al Futtaim and Retail Arabia”s parent firm BMA Intl.
Additionally, Retail Arabia is the franchise owner of 26 Geant stores across the UAE, Bahrain and Kuwait as well as four Gulfmart supermarkets in Bahrain.
Meanwhile, all of the obtained stores involving hypermarkets, supermarkets and convenience stores will be rebranded under Carrefour.
Accordingly, this will see Carrefour extend its leading position in the UAE by growing its store count from 67 to 80.
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