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CARREFOUR

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Real-time Euronext Paris  -  05/19 11:35:08 am EDT
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Brazil antitrust watchdog recommends approval of Carrefour acquisition of BIG Brasil

01/25/2022 | 08:01am EDT
The logo of Carrefour is seen at a Carrefour Hypermarket store in Nice

BRASILIA (Reuters) - Brazilian antitrust watchdog CADE has initially recommended approval of Carrefour's acquisition of Grupo BIG Brasil, but conditioned the deal to the divestment of some retail units.

The recommendation by the CADE superintendent's office still needs to be endorsed by the watchdog's court.

In a statement on Tuesday, CADE said the recommended divestment involves self-service retail units. CADE has 240 days, extendable for another 90 days, to rule on the deal.

Carrefour Brasil, the local unit of the French retail giant, announced last March the acquisition of Grupo BIG for roughly 7.5 billion reais ($1.36 billion) from Walmart and investment firm Advent International.

Carrefour already has a major presence in Brazil, where its subsidiary Carrefour Brasil is the country's biggest retailer by most measures and runs the Atacadão supermarket stores.

The acquisition will make it the uncontested market leader in the country, since BIG is considered Brazil's third-biggest food retailer, behind rival Grupo Pão de Açúcar.

($1 = 5.5115 reais)

(Reporting by Marcela Ayres, Editing by Louise Heavens)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ATACADÃO S.A. 2.52% 19.53 Delayed Quote.28.07%
CARREFOUR -3.18% 19.46 Real-time Quote.20.83%
EURO / BRAZILIAN REAL (EUR/BRL) 0.75% 5.2138 Delayed Quote.-17.66%
WALMART INC. -2.74% 119.07 Delayed Quote.-15.38%
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Financials
Sales 2022 78 990 M 83 631 M 83 631 M
Net income 2022 1 204 M 1 275 M 1 275 M
Net Debt 2022 7 097 M 7 514 M 7 514 M
P/E ratio 2022 12,3x
Yield 2022 3,17%
Capitalization 14 552 M 15 407 M 15 407 M
EV / Sales 2022 0,27x
EV / Sales 2023 0,25x
Nbr of Employees 319 565
Free-Float 73,3%
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Mean consensus BUY
Number of Analysts 19
Last Close Price 19,46 €
Average target price 21,51 €
Spread / Average Target 10,5%
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Managers and Directors
Alexandre Bompard Chairman & Chief Executive Officer
Matthieu Malige Chief Financial Officer
Miguel Ángel González Gisbert Global Chief Technology Officer
Charles Edelstenne Independent Director
Mathilde Lemoine Independent Director
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