BRAZIL: Carrefour "in talks" over Brazil stake sale
Speculation over Carrefour's plans in Brazil mounts
French retail giant Carrefour is reportedly looking at raising BRL5bn (US$2.1bn) through the sale of a stake in its Brazilian unit.
According to Reuters, the French retailer is in talks with potential bidders including Brazilian tycoon Abilio Diniz and an un-named sovereign wealth fund. The news wire cited a person with "direct knowledge" of the situation.
In recent months, there has been speculation Carrefour had hired investment banks to prepare for an IPO of its Brazilian arm.
Last week, Carrefour CEO Georges Plassat confirmed that the group was looking at ownership options for its Brazilian business but indicated that Carrefour has yet to make a decision.
"I insist we will not be doing anything in 2014 but I believe we will be ready in 2015. Whether it be opening up our capital to a local investor, a big investor, whether it be an IPO, whether it be a combination of both, all of that is possible," Plassat said
Carrefour did not return requests for comment.
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- Why May's Brexit comments give reason for optimism
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report