Carrefour has agreed to buy the remaining 72.5% stake in GB, the supermarket division of Belgium's GIB Group, for 670m euros. The deal provides the French retail giant with 60 hypermarkets and 430 supermarkets and smaller stores.
Carrefour gained its existing 27.5% stake following its merger with Promodès earlier this year.
The decision to buy all of GB will provide Belgian giants Delhaize and Colruyt with stiff competition, leading some analysts to predict another wave of consolidation in European retailing.
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