French retailing giant Carrefour, the second largest supermarket group in the world, revealed yesterday [Wednesday] that it hopes to net US$194.3m in the sale of its 9.9% stake in US pet food company Petsmart.


Carrefour, which first revealed that it would sell the stake in late June to focus on its core retail businesses, priced its public offering of 14.5 million shares at US$13.40 a share.


The stake has a book value of US$130m on the open market


The sale is expected to be completed next month.

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