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CONSUMER STAPLES: Carrefour; confirms buying out remaining stake in Brazil

CONSUMER STAPLES
Credit BulletsCEEMEAEurozoneFranceBullet

(CAFP; NR/BBB) 

  • Has confirmed buy-out of remaining 33% at BRL7.7/share (total ~€890m or 0.2x of leverage).
  • Current Atacadao shareholders can elect for full payment in cash or full in carrefour shares or a 50/50 cash/share mix.
  • This is already fully consolidated in financial statements - i.e. only credit mover is the cash component it spends on the buyout (max €890).
  • This may not be the end of rumoured reorganisation (see {NSN SMHJOMT1UM0X })

https://tinyurl.com/4w3uzvh7 

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(CAFP; NR/BBB) 

  • Has confirmed buy-out of remaining 33% at BRL7.7/share (total ~€890m or 0.2x of leverage).
  • Current Atacadao shareholders can elect for full payment in cash or full in carrefour shares or a 50/50 cash/share mix.
  • This is already fully consolidated in financial statements - i.e. only credit mover is the cash component it spends on the buyout (max €890).
  • This may not be the end of rumoured reorganisation (see {NSN SMHJOMT1UM0X })

https://tinyurl.com/4w3uzvh7