Kazakhstan’s Magnum Cash & Carry has entered into an agreement to purchase Majid Al Futtaim LLC Uzbekistan, which owns three Carrefour-branded hypermarkets in Central Asia's most populous country.
Magnum will assume full control over the activities of Majid Al Futtaim after the transaction is closed and all regulatory requirements are met.
All the Carrefour stores will be closed for a short time before they are reopened under the Magnum brand. The goods assortment and offers similar to what is provided by the Kazakhstan network of Magnum will be available to customers.
The staff of the hypermarkets that operated under the French international brand will transfer to Magnum. Both companies said they planned to ensure a smooth transition for employees, suppliers and other stakeholders, while also minimising inconvenience for customers.
Magnum’s intention to open its first store in Uzbekistan were unveiled in December 2021.
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more
Kazakhstan has launched the “Silk Road” train tour, connecting Tashkent, Turkestan and Almaty. The inaugural journey was set to depart on November 16. The four-day tour, ... more