Carrefour to Acquire Remaining Shares in Carrefour Brazil

Carrefour Group has announced its plan to acquire all outstanding shares of its Brazilian subsidiary, Grupo Carrefour Brasil, and delist it from the São Paulo Stock Exchange via a merger. Currently owning 67.4% of Carrefour Brazil, the Group aims to consolidate its control, underscoring confidence in the unit's potential. This move is also expected to allow enhanced operational agility.

Minority shareholders have three options for consideration: R$7.70 in cash per share, one Carrefour Group share for every 11 Carrefour Brazil shares, or a 50-50 mix. The offer includes a 32% premium on the one-month volume-weighted average price.

An independent committee and Carrefour Brazil's Board have deemed the offer fair. Approval from minority shareholders is pending, with transaction finalization expected by mid-2025. This step is framed as a strategic move to reinforce Carrefour's market leadership in Brazil. Full support has been expressed by Peninsula, Carrefour Brazil’s second-largest shareholder.