Carrefour has made an offer to purchase the 75 per cent majority stake in Russian retail group Seventh Continent (Sedmoi Kontinent), according to reports in Russia.
The non-binding offer is said to cover main owner Alexander Zanadvorov's US$560m debt to Deutsche Bank.
'Carrefour is talking to Deutsche Bank about buying the entire stake of Alexander Zanadvorov, which the bank has as collateral against a loan,' a banking source working with Carrefour told Reuters.
