French supermarket operator Hyparlo said yesterday (4 July) that the Court of Appeal had approved its bid for the remaining shares it doesn’t own in its Hyparlo affiliate, which operates stores under a franchise agreement with Carrefour in France and Romania.
In January 2005, Carrefour took a 50% stake in Hofidis ll, which owns 57.7% of Hyparlo, in addition to its existing 20% direct holding in the company, which remained unchanged.
In September 2005, the Court of Appeal in Paris ruled that Carrefour should make a further offer for the entire share capital of Hyparlo in conjunction with the retailer’s other principal shareholder the Arlaud family. The Arlaud family subsequently decided it would not participate in the purchase and before the offer was launched in December 2005, Carrefour acquired the Arlaud family’s participation in Hofidis ll.
In May, Carrefour said that it held a 93.89% stake in Hyparlo.