The family of French billionaire Saadeh became a major investor in the Carrefour supermarket chain after the Brazilian Peninsula Fund, owned by Brazilian businessman Abilio Diniz (1936-2024), sold its stake.
The Saadeh family will own about 4% of Carrefour’s capital, the company announced on Wednesday (12), and Rodolphe Saadeh will join the board of directors.
The family’s wealth, estimated at US$34 billion according to the Bloomberg Billionaires Index, comes from transportation and logistics company CMA CGM.
Although financial terms were not disclosed, the 4% stake would be worth around €390 million (R$2.4 billion) at the end of trading on Wednesday (12).
In a separate statement, Carrefour said that Peninsula Fund, Denny’s Fund, is selling its stake in the French retailer.
“After a decade of strong partnership, Peninsula’s decision to sell its stake in Carrefour is part of the fund’s new asset allocation strategy,” Edoardo Rossi, Peninsula’s president, said in the statement.
Península owned a 9.2% stake in Carrefour, representing about 15.7% of voting rights at the end of 2024, according to the company’s annual report.
Leaving the peninsula frees up the council seats held by Rossi and Flavia Buarque de Almeida.
About The Author
