By  on May 22, 2013

PARIS — Carrefour said Wednesday it has sold its 25 percent stake in Majid Al Futtaim Hypermarkets for 530 million euros, or $700.4 million at current exchange rates, to its partner in the region, Majid Al Futtaim Holdings.

The world’s second-largest retailer after Wal-Mart Stores Inc. said it also extended its long-term franchise agreement with Al Futtaium through 2025, with the pact covering new countries and formats.

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