Carrefour to acquire the remaining 32.6% stake in Grupo Carrefour Brasil for $920m.

Carrefour, a French multinational retail and wholesaling corporation, offered to acquire the remaining 32.6% stake in Grupo Carrefour Brasil, a Brazilian retail trade company, for $920m. "This‬‭ operation‬‭ marks‬‭ a‬‭ major‬ milestone‬‭ in‬‭ the‬‭ consolidation‬‭ of‬‭ our‬‭ leadership‬‭ in‬‭ Brazil,‬‭ where‬‭ we‬‭ have‬‭ been‬‭ expanding‬‭ with‬‭ an‬ extremely‬‭ competitive‬‭ business‬‭ model‬‭ and‬‭ through‬‭ a‬‭ series‬‭ of‬‭ targeted‬‭ acquisitions.‬‭ The‬‭ purchase‬‭ of‬ all‬‭ Carrefour‬‭ Brazil‬‭ shares‬‭ completes‬‭ this‬‭ strategy‬‭ of‬‭ building‬‭ an‬‭ undisputed‬‭ market‬‭ position‬‭ and‬‭ will‬ allow‬‭ our‬‭ local‬‭ management‬‭ to‬‭ focus‬‭ on‬‭ driving‬‭ operational‬‭ and‬‭ commercial‬‭ excellence.‬‭ We‬‭ are‬ convinced‬‭ that‬‭ this‬‭ decision‬‭ represents‬‭ an‬‭ excellent‬‭ opportunity‬‭ for‬‭ the‬‭ Group’s‬‭ Capital‬‭ allocation‬‭ and‬ will‬‭ generate‬‭ sustainable‬‭ value‬‭ for‬‭ our‬‭ customers,‬‭ employees,‬‭ partners‬‭ and‬‭ shareholders.‬‭ It‬‭ reflects‬ Carrefour’s‬‭ commitment‬‭ to‬‭ this‬‭ vast‬‭ country,‬‭ which‬‭ is‬‭ now‬‭ more‬‭ than‬‭ ever‬‭ at‬‭ the‬‭ heart‬‭ of‬‭ its‬ strategy," Alexandre‬‭ Bompard,‬‭ Carrefour‬‭ Chairman‬‭ and‬‭ CEO. ‭