Bernard Arnault Says Goodbye to Carrefour
Carrefour slips back by more than 4% on the Paris stock exchange after the move by Bernard Arnault who sold the 5.7% stake he owned in the large-scale retail company. The sale took place for a consideration of 724 million euros at a discount price of 5% compared to yesterday’s closing price.
Arnould thus leaves Carrefour after 14 years (his first investment dates back to 2007).
Bernard Arnault, the third richest person in the world, has sold 724 million euros ($854 million) of shares in Carrefour, ending his 14-year investment in the French supermarket chain.
As Chairman of luxury consumer giant LVMH, Arnault owned a 5.7 percent stake in Carrefour through the Agache Group.
Arnault first bought shares of the retail chain in March 2007.
“After 14 years of supporting Carrefour as a long-term shareholder, we have decided to redirect our investments,” Arnault said.
Canadian market group Alimentation Couche-Tard held talks with France’s Carrefour at the beginning of the year to expand its European operations, but the acquisition talks ended due to opposition from the French government.
He was one of two billionaire French families who invested in Arnault Carrefour.
According to the Bloomberg Billionaires Index, 72-year-old Arnault has a combined net worth of 160.7 billion euros, behind Jeff Bezos and Elon Musk.
Bernard Arnault Says Goodbye to Carrefour - /10
Carrefour slips back by more than 4% on the Paris stock exchange after the move by Bernard Arnault who sold the 5.7% stake he owned in the large-scale retail company.