JERUSALEM (AFP)--Israeli industrial and financial company Koor Industries Ltd. (KOR.TV) said Monday it will spend EUR630 million to buy a 3% stake in the French retail giant Carrefour SA (CA.FR).

"This investment was decided in light of the situation of international markets, investment opportunities and Koor's liquidity," a company statement said, without giving other details.

No comment was immediately available from Carrefour in Paris.

Koor said it already owns 1.76 million shares or 0.25% of Carrefour, which is ranked second among global supermarket chains after Wal-Mart Stores Inc. (WMT) of the U.S.

The purchase will make Koor the second-largest shareholder of Carrefour, behind Blue Capital which owns 13.55%.