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Investors led by Carrefour in huge land grab

The purchase adds malls spanning 476,000 sq m in France, Spain, Italy
Tuesday, December 17, 2013 - 06:00
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'We decided to seize this opportunity to preserve the coherence of our sites but also to create value out of the number of stores we plan to extend. It's something which could be very profitable for the group.'- Mr Georges Plassat, CEO, Carrefour

[PARIS] Carrefour SA joined a group of institutional investors to buy 127 European shopping malls in a 2 billion-euro (S$3.46 billion) transaction that gives the retailer more control of the sites around its hypermarkets. The purchase from Klepierre SA adds malls spanning about 476,000 square