Carrefour May Launch IPO In Brazil In 2017
Carrefour may launch an IPO for its Brazilian operations in the second half of 2017, an event that has been anticipated for the past two years.
Market sources told Brazilian daily O Estado de Sao Paulo that the decision has not yet been reached, as the IPO will also depend on the overall conditions of the Brazilian stock market.
Carrefour has already contracted Credit Suisse to the head the operation and talks with other investment banks are underway, according to the same sources.
Local market analysts consider the IPO as an opportunity for Carrefour to generate resources and grow further in Brazil. On the other hand, there is also pressure from investors in France for the Brazilian operation to raise funds for the parent company through a secondary operation.
Another source pointed out that, at present, a mixed issue (primary and secondary) would make sense for the company. Thus, part of the capital would remain with the Brazilian unit and the result of the secondary operation would go to the parent company.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.