Carrefour Increases Offer for Carrefour Brazil Acquisition

Carrefour has raised its offer to acquire all outstanding shares of its subsidiary, Grupo Carrefour Brasil. The revised proposal offers minority shareholders three options: 8.50 Brazilian reais in cash per share, one Carrefour share for every 9.96 Carrefour Brazil shares, or a mix of cash and shares. This represents a 46% premium over the one-month volume-weighted average price before the initial announcement.

The Group remains confident in the long-term prospects of Carrefour Brazil and is committed to providing an attractive valuation to minority shareholders. The General Meeting initial scheduled for April 7 has been cancelled and will be rescheduled. The transaction, subject to approval, is anticipated to complete by the end of Q2 2025.