Majid Al Futtaim Holding has announced the purchase of the 25 percent minority stake owned by Carrefour Group in Majid Al Futtaim Hypermarkets LLC for 530 million euros.
The two groups also strengthened their exclusive franchise partnership by extending its time horizon and expanding its scope.
Partners since 1995, Majid Al Futtaim operates 50 hypermarkets and 44 supermarkets under the Carrefour brand in several countries in the Middle East, North Africa and Central Asia.
Under the agreement signed yesterday, Majid Al Futtaim will own 100 percent of Majid Al Futtaim Hypermarkets’ shares.
The exclusive franchise partnership with the Carrefour Group is renewed until 2025 and extended to new formats and new countries.
Majid Al Futtaim sees this as a strategic transaction driving long-term growth, with its demonstrated expertise and track record to develop the brand successfully, and will keep and strengthen the strategic partnership with Carrefour in new countries and new formats.
Closing of the transaction is subject to approval by the relevant authorities.
Majid Al Futtaim acquires full ownership of Carrefour franchise
Majid Al Futtaim acquires full ownership of Carrefour franchise
Qatar lists first green sukuk as Al Rayan raises $137m
RIYADH: Qatar Stock Exchange listed its first green sukuk after Al Rayan Bank raised 500 million Qatari riyals ($137 million), expanding the range of sustainable Islamic finance instruments in the market.
The three-year sukuk carries an annual profit rate of 4.25 percent and is listed on QSE’s debt market, according to Qatar News Agency. The issuance is the first green sukuk in Qatar’s financial market and the first by an entity registered with the Qatar Financial Centre to be locally listed, cleared and settled.
The listing reflects efforts to deepen Qatar’s debt market and broaden access to Shariah-compliant instruments aligned with environmental, social and governance standards as investor demand for sustainable assets grows globally.
Abdullah Mohammed Al-Ansari, CEO of QSE, said: “The listing of the first green sukuk in QSE’s history represents a significant milestone in the development of Qatar’s capital market. It reflects our commitment to expanding the range of sustainable, Shariah-compliant financing instruments and enhancing the depth and diversity of the debt market in line with global best practices.”
He added: “This achievement also underscores QSE’s role as an integrated platform capable of supporting innovative financing solutions that align with national development priorities and long-term sustainability goals.”
Al Rayan Bank CEO Fahad Abdullah Al-Khalifa said the issuance underscores the lender’s ambition to lead in ESG-linked Islamic finance while strengthening the domestic capital markets infrastructure.
“By offering the first green sukuk to be listed, cleared, and settled in Qatar, we are not only reinforcing our role as a forward-looking institution but also contributing to the development of the local capital markets infrastructure,” he added.
Al Rayan Bank said the issuance reflects its ambition to play a leading role in advancing Qatar’s sustainable finance ecosystem by aligning Islamic banking principles with financing structures designed to deliver long-term value.
The listing comes amid continued development of QSE’s debt market, which has recently introduced inaugural corporate bonds, Islamic sukuk and sustainable bonds.
The green sukuk provides investors with a tradable Shariah-compliant asset that combines financial returns with environmental objectives, supporting portfolio diversification while reinforcing sustainability standards in the local market.
