Minority Shareholders of Carrefour Brazil Favor Share-Exchange Option

Minority shareholders of Grupo Carrefour Brazil have predominantly chosen to receive Carrefour shares as consideration in the recent acquisition. On April 25, approval was given for Carrefour Group to acquire all outstanding shares not already held by the company. The minority shareholders, representing 32.6% of Carrefour Brazil’s capital, were given three options.

A substantial 84.61% selected the share-exchange option, which provides one Carrefour share for every 9.96 Carrefour Brazil shares. In contrast, 15.38% chose or defaulted to the all-cash option at 8.50 Brazilian reais per share. Only a minimal 0.01% opted for a mixed approach involving both cash and shares.

Carrefour will issue 58,345,601 new shares, increasing the total share capital to 736,314,789 shares. The cash consideration amounts to approximately R$900 million, funded from existing resources.