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.
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
Given the economic slowdown in China, Carrefour will be more cautious about the development of its hypermarkets. However, the focus on product quality will not change as the company continues to stren...
Carrefour MAF Hypermarkets Pakistan (Pvt) Ltd established its second outlet in Karachi in 2012 and plans to strengthen its brand name and customer loyalty by concentrating on the quality of service on...
Carrefour Polska Sp zoo aims at further strengthening its position basically via organic growth within all formats it is operating in, such as hypermarkets, supermarkets and convenience stores. Howeve...
Following the acquisition by well-established Indonesian business empire CT Corp, Carrefour is likely to continue its outlet expansion over the forecast period. Aiming at double-digit annual growth, o...
In 2007, Saudi Hypermarket announced that it planned to operate 20 outlets in Saudi Arabia. Six years after the announcement, the company added six new outlets, five of which are Carrefour outlets and...
- Why Mars rice plan not just crop-ticking exercise
- ConAgra Foods: what could happen next? - analysis
- Greencore's food-to-go focus paying dividends
- Interview: Ritter sees growth potential in US, EU
- How Danone aims to meet its 2020 objectives
- Pinnacle to buy Boulder Brands in $975m deal
- Aryzta regional CEO steps down
- Maple Leaf Foods to cut over 400 jobs
- Hovis plans cuts amid anxiety over UK bread demand
- Nestle combats Thai seafood supply forced labour