Carrefour has failed to find one buyer for all of its three Russian hypermarkets, and it is likely to sell leasing rights to rivals as it prepares to exit the Russian market, industry sources said Friday.
The world's second-largest hypermarket chain, struggling with weak performance in France, announced the decision to pull out of Russia in October last year — only four months after gaining a foothold in the market — having failed to identify any growth or acquisition prospects.
The retailer had planned to sell its Russian business in one go, but sources said it is now preparing to sell leasing rights for its Moscow hypermarket to French rival Auchan and German home improvement chain OBI, while the fate of the other two stores has yet to be decided.
It has not signed new contracts with suppliers since the end of last year, sources at food suppliers said.
Carrefour declined comment.
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