Carrefour's Mideast Operator Is the Frontrunner in Geant Bid

Majid Al Futtaim Holding LLC, the Middle East operator of Carrefour SA stores, is the lead bidder for a controlling stake in the Geant Hypermarket chain, according to three people familiar with the matter.

MAF, as the Dubai-based conglomerate is known, was up against Saudi Arabian retailer Bindawood Holding, the people said, asking not to be identified as the information is confidential. Bahrain-based private equity firm Investcorp Bank BSC acquired a stake in Bindawood last year. While MAF is close to concluding a deal, talks may still fall apart, the people said.