date:May 31, 2013
French retail major Carrefour has signed a partnership agreement with CFAO, a distributor and retailer of automobiles and pharmaceutical products, to form a joint venture (JV) as part of plans to expand its presence in Africa.
CFAO will hold a 55% stake and Carrefour will hold a 45% stake in the proposed JV.
The JV will allow Carrefour develop various store formats in eight countries in West and Central Africa. The company will likely open stores under the Carrefour banner in Cameroon, Congo,