CARREFOUR UPS STAKE IN CHAIN
PARIS — French hypermarket giant Carrefour said Monday it acquired controlling interest in Gruppo GS SpA, the Italian supermarket chain, from Benetton SpA and the Del Vecchio holding company.
With the addition of the 60 percent stake acquired from Benetton and Del Vecchio, Carrefour now holds more than 96 percent of Gruppo GS’s stock. Carrefour acquired the 36 percent stake previously owned by Promodes when the two French companies merged last August.
The prices of the transactions were not disclosed.
Gruppo GS SpA had 1999 sales of about $5 billion. Carrefour’s purchase makes it Italy’s number two distributor.