By
Reuters
Published
Jul 28, 2016
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Carrefour CEO sees property, Brazil flotations in 2017

By
Reuters
Published
Jul 28, 2016

French retailer Carrefour could launch separate share flotations of its property and Brazilian units in 2017, its chief executive said on Thursday.


Georges Plassat - AFP



Analysts say floating Carmila, which ranks among Europe's five largest commercial property firms, would allow Carrefour to get extra cash to fund its expansion and also unlock some hidden value within Carrefour's asset portfolio.

"It is legitimate to think about an IPO" for next year, Chief Executive Georges Plassat said, referring to Carmila.

The world's second-largest retailer is also sticking to plans for a possible flotation of its Brazil unit.

"We maintain the idea of an IPO (in Brazil) which could happen during 2017," Plassat said.

Carmila, created in April 2014, is 42.3 percent controlled by Carrefour, with the balance held by a group of institutional investors. Its asset portfolio is worth some 4.5 billion euros.

 

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