Walmart to take Carrefour stores in Delhi, Jaipur, Agra.

American retail chain Walmart will replace three of the wholesale stores set up by French group Carrefour in India with its own, sources said.

Carrefour had in July announced it was exiting the India market. It has only a small team left in the country, to conclude the commercial and regulatory transactions. All senior officials, including the then India managing director, Jean-Noel Bironneau, have returned to France.

With annual global revenue of €100 billion, Carrefour runs about 10,000 stores in 34 countries. KPMG has been helping the French chain sell its assets and exit India.

A source close to the development told Business Standard that Walmart had finalised a deal with the land owners concerned for long-term leases to take up Carrefour stores in Delhi, Jaipur and Agra. However, the American chain refused to comment on 'rumours or speculation'. Walmart has said it would expand its number of cash and carry or wholesale stores in India to 50 in the next four to five years, up from 20 now.


BS