Carrefour looks to speed up expansion
| 17 March, 2014
Carrefour could raise as much as $2.1 billion from the sale of a stake in its Brazilian unit, with potential bidders including Brazilian tycoon Abilio Diniz and a sovereign wealth fund, according to Reuters.
Carrefour chief executive Georges Plassat has previously said he wants to speed up expansion in the fast-growing emerging markets of Brazil and China.
Proceeds from the deal would allow Carrefour to compete more effectively with GPA in the Brazil’s retail market, which is benefitting from rising incomes.