UK Markets closed

Agache group launches sale of 5.7% stake in France's Carrefour

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The logo of French retailer Carrefour on shopping trolleys in Sao Paulo
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

PARIS (Reuters) - Agache group, the holding company owned by French billionaire Bernard Arnault, said on Tuesday it was selling its 5.7% stake in Europe's largest retailer Carrefour.

The company said in a statement it has launched the disposal via an accelerated bookbuilding process reserved for institutional investors.

"The final terms of the placement will be announced after the closing of the accelerated bookbuilding process," Agache group said.

Shares in Carrefour closed at 16.85 euros ($19.89) on Tuesday on the Paris stock market, giving the French retailer a market value of 13.32 billion euros.

(Reporting by Marc Angrand and Matthieu Protard; editing by Barbara Lewis)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting