French retail giant Carrefour has remained silent on Brazilian reports that it is preparing an initial public offering for its Atacadão wholesale arm in the country.

The company is reportedly preparing to launch an IPO for the unit in a bid to unlock the value of the business, whose sales totalled more than BRL11bn (US$5.4bn) in the last financial year.

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“We do not comment on any IPO project in Brazil,” a spokesperson for the French company told just-food today (30 October).

The rumours follow reports earlier this week that Carrefour is preparing to sell its Malaysian business to Japan’s Aeon. 

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