Carrefour’s Brazilian IPO May Raise as Much as $1.7 Billion
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Carrefour SA’s Brazilian unit has filed for an initial public offering that may raise as much as 5.6 billion reais ($1.7 billion), inching closer to a long-planned transaction despite a recent decline in the country’s stock market.
Carrefour and Peninsula, an investment company controlled by billionaire Abilio Diniz, plan to sell as many as 297 million shares in Atacadao SA for 15 reais to 19 reais each, the Boulogne-Billancourt, France-based retailer said in a statement late Wednesday. Carrefour has planned the IPO for more than three years.