PE "eyes Carrefours Dia"

PE "eyes Carrefour's Dia"

Private-equity funds have reportedly approached Carrefour with a view to buying the French retailer's Dia stores outright.

The world's second-largest retailer plans to spin off its Dia discount unit, floating the arm on the Paris stock exchange in a move that it insists will maximise shareholder value. 

However, speculation has mounted that the company would re-think its position and sell the chain outright if it can negotiate a high enough price with interested private-equity groups. According to Reuters, one unnamed source said: "They have been approached by several funds and these are big ones."

The speculation comes as shareholder opposition to Carrefour's plan to float the business mounts. However, a spokesperson for Carrefour declined to either confirm or deny that it had been approached over a possible sale.

"We are committed to creating shareholder value by maximising the value of our assets," the spokesperson reiterated.