Auchan sets up hypermarts

Tue, 29 Apr 1997 | Source: AP

BANGKOK (AP): Bangchak Petroleum said yesterday it would take a 10 percent stake in a joint venture with France's Auchan S.A. to invest at least 1.34 billion baht (US$ 53.6 million) to set up hypermarts in Thailand.

Bangchak, which owns about 1,000 gasoline service stations nationwide, said in a statement to the Thai stock exchange that the joint venture would operate Auchan Hypermart stores in the northern province of Chiang Mai, 580 kilometers (360 miles) north of Bangkok.

Auchan is one of France's biggest hypermart chains.

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