PARIS, June 20 (Reuters) - Privately-held hypermarket operator Auchan Retail is stepping up its investments in Ukraine, with the acquisition of local retailer Karavan, the French company said on Tuesday.
The financial terms of the deal, which must be approved by anti-trust authorities, were not disclosed.
Auchan, which is present in 17 countries and makes 65 percent of revenue outside France, operates 11 hypermarkets in five Ukrainian cities and employs 3,600 people.
It makes 18.7 percent of global turnover of 52 billion euros ($58 billion) in Central and Eastern Europe.
Karavan operates nine hypermarkets and superstores and employs 3,300 people in Ukraine. The deal will enable Auchan to beef up its presence in Kiev and expand to four new cities: Kharkiv, Dnipro, Zhytomyr and Chernivtsi.
$1 = 0.8990 euros Reporting by Dominique Vidalon; Editing by Mathieu Rosemain