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The BBC reports that Carrefour, which has been operating 72 hypermarkets and 20 other stores in Colombia, is selling the entire business to Chilean group Cencosud for the equivalent of $2.6 billion (US).

"This transaction is in line with Carrefour's new strategy of focusing on geographies and countries in which it holds or aims to develop a leading position," the company said in a statement. Carrefour already has pulled out of Singapore and Greece as it looks to divest stores in non-core markets.

The story notes that "Cencosud already has operations in Chile, Brazil, Peru and Argentina, as well as in Colombia since 2007."
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