The Agache group, holding company of the CEO of LVMH, Bernard Arnault, announced on Tuesday that it had initiated the sale of the 5.7% (8.89% of the voting rights) that it still held in the capital of the distributor, where it was entered in 2007.
This withdrawal of the businessman is not a surprise.
It had already started in September 2019, when Crédit Agricole Corporate and Investment Bank sold 3.1% of Carrefour's capital, held to cover derivative transactions concluded with the Arnault group.
This winter, he was in favor of the buyout of the distributor by the Canadian Couche-Tard.
The Agache group wishes to redirect its investments towards the luxury and technology sectors.
Before selling his stake, he was waiting for Alexandre Bompard's mandate at the head of Carrefour to be renewed, which was the case in May.
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“
For four years, Carrefour has achieved a remarkable turnaround under the leadership of Alexandre Bompard
, said Bernard Arnault in a press release.
In particular, the competitiveness of French activities has increased significantly and Carrefour has stepped up its development in Brazil
. ”
For his part, Alexandre Bompard affirms that
“since (his) arrival, (he) has been able to count on the trust and unfailing support of Bernard Arnault at each stage of the group's transformation
”.
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The Carrefour share was priced at 47 euros when the Arnault group entered the capital. Today it is only worth 16.8, despite the distributor's good commercial performance. The net value of the transaction for the Arnault group is however difficult to assess, the group having received dividends, benefited from the spin-off of DIA or even hedged the price differential using derivative products.