French retailer Carrefour is mulling an initial public offering that could value its commercial-property arm, Carmila, at €4.5 billion, Reuters reported Tuesday.
The company is considering the IPO between April and June in 2017, handled by Morgan Stanley and Société Générale.
The news agency said that a spokesperson for the retailer declined to comment on the situation.
Carrefour had said earlier in the year that it was waiting for the right moment for an initial public offering of its shopping-mall property unit.
Reuters added that Carmila, which is one of Europe's five-largest commercial-property firms, would allow the French chain to 'get extra cash to fund its expansion and also unlock some hidden value within Carrefour's asset portfolio'.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
