"Dubai mall developer Majid Al Futtaim Holding (MAF) is looking to raise at least $500 million from the issue of a hybrid debt sale to finance its buyout of French hypermarket chain Carrefour's (CARR.PA) stake in a regional venture.
MAF, sole franchisee of Carrefour hypermarkets in the Middle East, said last week it was buying out the company's 25 percent stake in the joint venture for $680 million.
In an investor presentation seen by Reuters, MAF said it had enough liquidity at hand to finance the purchase."
'via Blog this'
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