Carrefour to Invest in Russia

Paris Carrefour SA said Monday it has agreed to invest $100 million in the Krasnodar region of southern Russia over the next five years as part of its plan to branch out in the former Soviet republic.

Carrefour, seeking to accelerate growth in high-potential markets, is building two stores in Russia—one in Moscow and one in Krasnodar—which it hopes to open late this year or early next year, and has plans for least another five openings in 2009.