PARIS — Abílio Diniz has joined the board at Carrefour SA.
The Brazilian billionaire secured 90.8 percent of the vote to confirm his seat, at the French retailer’s annual general meeting on Tuesday.
In March, Península Participações, the investment vehicle of Diniz’s family, has raised its stake in Carrefour from 5.07 percent to 8.05 percent.
“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.
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 — owner of Galeries Lafayette — has an 11.51 percent stake.