EVRY (dpa-AFX) - French grocery retailer Carrefour Group (CRERF.PK, CRRFY.PK) said the Brazilian investment company Península, chaired by Abilio Diniz, is taking a 10% stake in its subsidiary in Brazil.
This transaction is a significant step in the plan, announced earlier by Carrefour group Chairman and Chief Executive, Georges Plassat, to bring outside investors into the capital of its Brazilian subsidiary in order to strengthen its local ties and support its growth. Through this transaction, Carrefour Brazil will benefit from the widely-recognized local retail experience of its new shareholder in order to continue the development of its multi-format model.
This opening of the capital of the Brazilian subsidiary could also include a listing on the Brazilian stock exchange in the future. The completion of the transaction is immediate.
Copyright RTT News/dpa-AFX