By  on November 20, 2012

PARIS — Carrefour SA said it has sold its 60 percent stake in Carrefour Indonesia to its local partner, CT Corp, for 525 million euros, or $679 million at current exchange.

Carrefour, the world’s second-largest retailer after Wal-Mart Stores Inc., said the transaction was part of its continued strategy of refocusing on its core activities, which has seen it sell off a string of underperforming assets in recent months.

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