Carrefour is to sell its stake in its joint venture with Marinopoulos Group. The move will make Marinopoulos the exclusive franchisee of Carrefour in Greece, Cyprus, Bulgaria and the Balkans.

Carrefour is likely to incur a charge of approximately E220m (£183.7m) relating to the discontinued activities. Marinopoulos reportedly plans to invest E350m (£292.3m) in the operation and retain the Carrefour brand.