Carrefour to make investment in Brazil
Date added: 15th February, 2010 at 09:19
(view all articles from February, 2010)
Categories: Economy
French supermarket firm Carrefour is to make a further investment in Brazil.
The company, which is already the largest supermarket operator in the Latin American country, has denied rumours it is to pull out of its commitments in Brazil.
Carrefour executive Jean Marc Pueyo told the Folha de Sao Paulo newspaper that further investment in Brazil would be made by the supermarket chain.
He said: "Why would Carrefour put so much money into Brazil if it planned to sell? No, we are not going to sell. The company is focused on investing strongly and growing."
Mr Pueyo added that it did not make sense for Carrefour to sell its Brazilian operation.
Carrefour said in a statement last month that it would invest 2.5 billion reais (£859 million) in Brazil over the next two years, reports Bloomberg.
The company said it was also planning to introduce internet sales in Brazil in the first few months of 2010.
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