Sources: Carrefour values Russian takeover target at $1.25 billion

04/20/2009 | Moscow Times, The

In February, Carrefour made Sedmoi Kontinent, a Russian retailer, a nonbinding offer, according to sources. The French retailer has valued Sedmoi at $1.25 billion, they say. If Carrefour acquires Sedmoi, it will become the first foreign company to enter the retail market in Russia since the credit crunch hit the country.

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Moscow Times, The

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