Carrefour to Acquire 17% Stake in Showroomprive for EUR79 Million
January 11 2018 - 1:25PM
Dow Jones News
By Euan Conley
Carrefour SA (CA.FR) said on Thursday it will buy a 17% stake in
French online fashion retailer Showroomprive (SRP.FR) from
Conforama, a subsidiary of Steinhoff International Holdings
N.V.(SNH.JO).
As part of the deal, worth around EUR79 million ($94.5 million),
both companies will develop a leading omni-channel offering, said
Carrefour.
Alexandre Bompard, Carrefour's chief executive officer, said
that the acquisition would allow the French supermarket retailer
"to enter the online private sales market and strengthen its
offering."
Carrefour added that it will make an additional payment to
Conforama should it launch a takeover bid for Showroomprive within
eighteen months of the completion of the transaction.
Following the deal, Carrefour will hold 16.86% of the capital
and 13.67% of the voting rights in Showroomprive, while its
founders will retain 27.17% of the capital and 40.42% of the voting
rights.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
January 11, 2018 13:10 ET (18:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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