French retailer Carrefour has announced that its joint venture with Sasbanci in Turkey has sold a plot of land in Istanbul for EUR 267 mln to a joint venture between Apollo Real Estate and Multi Turkmall. The buyers will develop a Carrefour hypermarket on the site, which is expected to open in 2010.
French retailer Carrefour has announced that its joint venture with Sasbanci in Turkey has sold a plot of land in Istanbul for EUR 267 mln to a joint venture between Apollo Real Estate and Multi Turkmall. The buyers will develop a Carrefour hypermarket on the site, which is expected to open in 2010.
Carrefour said the transaction will lead to a capital gain of EUR 150 mln before tax.
