PARIS – Blue Capital, an investment fund jointly owned by Groupe Arnault and Colony Capital, said Friday it raised its stake in Carrefour to 10.7 percent, making it the French hypermarket operator’s leading single shareholder.
Blue Capital, which previously owned 9.1 percent of Carrefour’s shares, also said it would seek a third seat on Carrefour’s supervisory board.
Last year, Arnault aide Nicolas Bazire and Colony Capital executive Sebastien Bazin won seats on Carrefour’s board.
The move confirms speculation sparked March 6, a day before Carrefour’s yearly results, when its main shareholding family, the Halleys of France, announced plans to dissolve a shareholder pact that guaranteed its control of Carrefour. The pact is set to be dissolved at the retailer’s annual general meeting on April 15.
For complete coverage, see Monday’s WWD.