Carrefour Sells Minority Stake in Shopping Center Owner Carmila for $194.5 Million
Carrefour said it sold a 7% shareholding in shopping center owner Carmila CARM -5.37%decrease; red down pointing triangle for around 171 million euros ($194.5 million) as part of a strategic review of its portfolio.
The French grocer said Wednesday that it completed the sale of 9,866,421 shares in Carmila via an accelerated book-build process.
Carrefour said it plans to remain Carmila's main shareholder and that the divestment won't result in any change to the existing partnerships, mandates and service agreements between the two companies.
During the share placement, Carmila itself bought back around 1 million euros worth of its own shares to complete its share-buyback program, Carrefour added.
Write to Maitane Sardon at maitane.sardon@dowjones.com
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