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
I hold myself back from other brands.
☺️
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