Galeries Lafayette becomes referential shareholder at Carrefour

Galeries Lafayette becomes referential shareholder at Carrefour

The family-owned holding above Galeries Lafayette has obtained 6.1 % of Carrefour's stock, marking the return of the Moulin family into the wholesale industry - after it had to sell its supermarket chain Monoprix to Casino.

Larger stake than Colony Capital

The Moulin family announced that its Motier holding had obtained 6.1 % of the shares of Carrefour, the world's second largest distribution group. This "strategic and patrimonial investment" means that the Moulin family is now Carrefour's second largest shareholder, trailing Groupe Arnault (8.88 %), but ahead of Colony Capital (5.89 %).

 

The holding emphasizes it is a "friendly entrance into Carrefour", while Philippe Houzé (the current CEO at Galeries Lafayette) will enter its board of directors. It has however no intention to join the Arnault-Colony consortium, where both other major shareholders discuss which stance they will take in Carrefour's board.

 

Participation worth 1.3 billion euro

The participation of the Moulin family is apparently worth some 1.3 billion euro, almost as much as what Galeries Lafayette received when it sold its 50 % stake in Monoprix to Casino. Hefty and public discussions preceded the Monoprix sale, but that storm has passed by now.

 

Motier is also planning an expansion of its core business (large warehouses) and "will invest the necessary means to do so in the next few years", although the holding refused to comment more specifically.

Questions or comments? Please feel free to contact the editors


Amazon almost ready to launch first cashierless Go

20/11/2017

According to certain sources, Amazon is currently hiring construction managers and marketers for its Amazon Go team. This move may suggest that the cashierless supermarket concept may be ready for prime time – for real this time.

Turnover for 100 largest web shops in Belgium grows 13.5 %

16/11/2017

Turnover for the top 100 web shops in Belgium grew 13.5 % from 3.7 to 4.2 billion euro. Digital sales for food items and household products have increased considerably.

Barbie rejects G.I. Joe & co (for now?)

16/11/2017

Toy giant Mattel has allegedly turned down competitor Hasbro’s bid, according to press agency Reuters’ anonymous sources close to the deal. It is still unclear what the repercussions would be.

Henkel increases full-year turnover forecast

15/11/2017

For the first time ever, Henkel will pass the fifteen billion euro turnover milestone for the first nine months of the year. The company will also increase its turnover and profit forecast on the back of these excellent performances.

Singles' Day alters the global retail calendar, even here

14/11/2017

Move aside Christmas turnover, Singles’ Day is the world’s largest shopping holiday – by far. Alibaba generated a 22 billion euro turnover in a single day and even Bol.com took advantage of the day. Are we heading to a new retail calendar?

Avoid long waiting lines at cash registers thanks to Google Maps?

13/11/2017

Google will add a new option to its Maps app on 23 November: users will then be able to assess how much time they will lose at the cash register.

Back to top