The French billionaire Saade family became a major investor in the Carrefour supermarket chain after the Brazilian fund Peninsula, owned by Brazilian businessman Abilio Diniz (1936-2024), sold its stake.
The Saade family will now own around 4% of Carrefour’s capital, and the company announced on Wednesday (12th) that Rodolphe Saade will join its board of directors.
The family’s fortune is estimated at around US$34 billion, according to the Bloomberg Billionaires Index, with the money coming from transportation and logistics company CMA CGM.
Financial terms were not disclosed, but the 4% stake will be valued at around 390 million euros (2.4 billion reais) at the close of trading this Wednesday (12th).
Carrefour reported in a separate statement that Dinis’s fund Peninsula is selling its stake in the French retailer.
“After 10 years of strong partnership, Peninsula’s decision to sell its Carrefour stake is part of the fund’s new asset allocation strategy,” Peninsula President Eduardo Rossi said in a statement.
Peninsula held 9.2% of Carrefour’s shares, representing about 15.7% of voting rights at the end of 2024, according to the company’s annual report.
Leaving the peninsula will vacate the parliamentary seats held by Rossi and Flavia Buarque de Almeida.
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