Private-equity funds target Carrefour
“Vandevelde exits Carrefour as private equity moves in”, The Independent, (08 March 2007)
“The future of the French supermarket colossus Carrefour was plunged into uncertainty yesterday after a Californian private-equity company and France's wealthiest man joined forces to acquire almost 10 per cent of its shares.... "
"The acquisition of 9.8 per cent of Carrefour shares, worth US$3.8 billion ($5.6 billion), by the luxury goods magnate Bernard Arnault and the Los Angeles-based investment company Colony Capital caused feverish speculation in France yesterday that the supermarket chain is a bid target....
Colony Capital has specialised in brokering similar deals to divide hotel groups such as Accor into management and property-owning companies. Analysts believe Carrefour's property portfolio could be worth £22 billion ($62.4 billion).”
Continue reading:
http://news.independent.co.uk/business/news/article2338459.ece
See also:
Carrefour hints at property portfolio sell-off (8/3/2007)
http://www.euro2day.gr/articlesfna/30151778/