MAF could be acquiring French hypermarket chain Geant

Majid Al-Futtaim (MAF) is the frontrunner in the bid for a controlling stake in French hypermarket chain Geant, with the transaction value likely to reach USD 500 mn, Bloomberg reports. MAF, which operates Carrefour stores in the Middle East, is competing with Saudi Arabian retailer Bindawood Holding. Geant had hired BNP Paribas SA to advise on the sale.