Carrefour to buy Indonesian retailer share

The world's second-largest retailer ,agreed to buy a 75 percent stake in Indonesian group Alfa Retailindo ALFA.JK for 49.3 million euros.

 The takeover comes as Carrefour continues its strategy to expand in fast-growing emerging markets, as it tackles competition and price pressure its main French market. Alfa Retailindo is one of the leading retailers in Indonesia, where it operates 29 stores across the country. "This acquisition forms part of Carrefour's strategy to reinforce its presence in key growth markets through a locally adapted multiformat approach," France-based Carrefour said.