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


Facebook launches its Marketplace in Europe

16/08/2017

In October 2016, Facebook launched a marketplace for used items in several countries, including the United Kingdom and the United States. That marketplace is now also coming to Belgium, the Netherlands and fifteen other European countries.

AS Adventure acquires German McTrek

14/08/2017

Belgian outdoor chain AS Adventure has acquired its German competitor McTrek. The acquisition opens up the largest European outdoor market for the Belgians, thanks to McTrek’s 39 stores and web shop.

American department store chains continue to struggle

11/08/2017

Several American department store chains continue to underperform. Both Macy’s and Kohl’s experienced turnover slumps compared to the previous year, even though they both managed to beat analysts’ expectations.

Amazon wants to compete with Ticketmaster

11/08/2017

Amazon is in talks with American event location owners to see whether it could sell tickets for their events on its web shop.

Record turnover for Henkel

10/08/2017

German Henkel has had a record second quarter, when turnover reached nearly 5.1 billion euro. For the first time ever, its six-month turnover surpassed the 10 billion euro milestone, thanks to its acquisition of laundry detergent company Sun.

Lion Capital once again wants to sell Hema

08/08/2017

Lion Capital has approached business bank Credit Suisse to look into “strategic options” for Hema, which basically means it has to find an interested buyer for the Dutch store chain.

Back to top