PARIS – Península Participações, the investment vehicle of Brazilian billionaire Abílio Diniz’s family, has raised its stake in Carrefour SA to 8.05 percent, it said.
“This investment is in line with the long-term strategy followed by Península, and reflects the belief in Carrefour S.A.’s growth potential,” said the São Paulo-based company, which manages a portfolio of more than 10 billion reais, or $2.75 billion at current exchange.
Diniz previously held a 5.07 percent stake in Carrefour, the world’s second-largest retailer after Wal-Mart Stores Inc., and purchased the additional shares through unidentified controlled entities. Carrefour has proposed that Diniz be given a seat on its board of directors at its annual general meeting on May 17.
Carrefour declined to comment.
The Diniz family is now Carrefour’s third-largest shareholder. Private-equity firm Colony Capital and Groupe Arnault jointly hold 14.18 percent of the capital, while the Moulin family has an 11.51 percent stake.