French billionaire Bernard Arnault, who controls luxury goods behemoth LVMH, has sold a 5.7% stake in French supermarket chain Carrefour that he held through his Agache group vehicle, Carrefour said on Aug. 31.
Agache sold the stake at 16 euros per share, raising 724 million euros, Reuters reported citing bookrunner Société Générale. Agache first invested in Carrefour in 2007, when it took a 9.8% stake along buyout firms Colony Capital and Axon Capital at an average price of 47 euros per share. A $20 billion takeover bid for Carrefour by Canada’s convenience store giant Alimentation Couche-Tard collapsed in January due to French government opposition. Carrefour subsequently bought Brazil’s Grupo BIG for $1.3 billion.Source: REUTERS/Martin Bureau/PoolRelated Links
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