PARIS—French retail giant Carrefour S.A. Monday said it has sold its Thailand stores to Big C, a local subsidiary of its smaller rival Casino Guichard- Perrachon S.A., for an enterprise value of €868 million ($1.19 billion).
The sale generated a flurry of interest from retailers seeking to solidify positions in the fast-growing region. The purchase will double Big C's store network in the Bangkok region and propel Big C to the position of co-leader in large hypermarket stores.
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