Galeries Lafayette owner increases Carrefour share

Galeries Lafayette owner increases Carrefour share

The Moulin family, which owns the French luxury department store chain Galeries Lafayette, has increased its share in Carrefour to 9.5 % and has now strengthened its position as the second largest shareholder in the French distributor.

"Belief in Carrefour's innovation plan"

The family had already acquired a 6.1 % stake (44.2 million shares) back in April 2014, for the price of 1.3 billion euro. "We have gradually increased our investment in Carrefour's capital, which now gives us 9.5 % and makes us the second largest shareholder", Philippe Houzé, working for the Motier family holding, said. The joint force of Colony Capital and Groupe Arnault, who own 14.8 % together, is Carrefour's largest shareholder.

 

The Moulin family wants to have two seats in Carrefour's next shareholders's meeting: "We strongly believe in Carrefour's innovation plan", Houzé told press agency Reuters. "We also back [CEO] Georges Plassat's strategy, whom I greatly appreciate."  When the family became a reference shareholder last year, Houzé had already emphasized "the friendly nature" of its participation.

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