French Carrefour Group, a largest retail chain in Europe, eyes buying Russian retailer Seventh Continent. The debt-laden Russian company may have to sell a 74.8% stake to Carrefour, which is ready to pay $560 million approx.
      
      At the moment the Russian company is facing a margin call made by Deutsche Bank after it gave a loan of $560 million to the Seventh Continent in 2007.
      
      Carrefour, negotiating the deal with minority shareholders, should make the final offer within 3-4 weeks’ time.
      
      Carrefour Group comprises over 10 000 stores in more than 30 countries. Earlier the company announced intention to enter the Russian market and open its first Russian store in 2008 planning to expand the Russian retail chain up to 5 stores in 2009.
      
      source:
      Russian Business