in 2007. Arnault’s holding company, Financière Agache, sold its 5.5% stake in Carrefour at about $19 per share for a total of roughly $850 million before taxes.
It has not proved to be a profitable investment. In March 2007, Agache’s parent company Groupe Arnaulta 9.8% stake in partnership with investment firms Colony Capital and Axon Capital for a price estimated between $4.3 and $5 billion at the time. The partners exited the deal in January 2017, leaving Arnault with an 8.7% stake that was then worth about $1.6 billion.
Carrefour shares fell by nearly 60% between March 2007 and January 2017 and have slid by a further 26% since then, as the retailer cycled through several CEOs amid
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 10 Best Refrigerators, From Side-By-Side Models To Fancier French Door OptionsWe’ve taken the guesswork out of finding your next fridge and compiled a list of the best refrigerators for any home from brands such as Maytag, Fridgidaire, and Samsung. Whether you're looking for a top-freezer, something more quiet, or a sleek mini fridge, it can be found here.
Source: Forbes - 🏆 394. / 53 Read more »
French Onion Soup-fflé Recipe on Food52This souffle combines two of my gooey favorites: creamy cheese soufflé and rich French onion soup. Béchamel, a milk sauce thickened with flour and butter, is the traditional base for a cheese soufflé.
Source: Food52 - 🏆 113. / 63 Read more »
French Montana gets $5 million for Hidden Hills home he bought from Selena GomezFrench Montana's Hidden Hills home, which he decked out with a $400,000 recording studio, just sold for $5 million in Hidden Hills. good
Source: latimes - 🏆 11. / 82 Read more »
Bernard Arnault’s farewell to Carrefour is overdueThe LVMH founder sold his remaining 5.7% stake in the $15 bln Gallic grocer, at one-third the likely price he paid in 2007. It’s a rare miss for the luxury guru. Yet given the sector’s shaky outlook and French government opposition to takeovers, even a painful exit makes sense. LJucca Thanks for your good work new person needs be head hunted ThomsonHoldingCompanyPltd At SouthAmpton
Source: Breakingviews - 🏆 470. / 51 Read more »
Bernard Arnault’s farewell to Carrefour is overdueBernard Arnault’s final goodbye to Carrefour is overdue. The LVMH founder this week sold his remaining 5.7% stake in the 13 billion euro Gallic grocer, at one-third the likely price he paid back in 2007. It’s a rare miss for the luxury billionaire. But with supermarkets barely growing and the French government’s opposition to takeovers, moving on makes sense.
Source: Breakingviews - 🏆 470. / 51 Read more »
Carrefour shares buck a rally for Europe stocks as one of the world’s richest men sells his stakeStocks gained in Europe as September trading kicked off, with big move for retailers, luxury goods makers and drinks companies.
Source: MarketWatch - 🏆 3. / 97 Read more »