Group Carrefour has released a statement announcing its intentions to acquire the outstanding shares of its Brazilian subsidiary, Grupo Carrefour Brasil, held by other minority shareholders. The Group currently owns nearly 70% of Carrefour Brazil. 

An independent committee was formed to review the offer proposed to the shareholders, which, after careful review, will be offered different options in exchange for their shares.

The choices are 7.70 Brazilian Reais (R$) in cash per share of Carrefour Brazil, one share of Carrefour Group for each 11.00 share of Carrefour Brazil, a 50-50 mix of the two previous offers, i.e. 3.85 R$ in cash per share of Carrefour Brazil plus 1 share of Carrefour 1 Group for each 22.00 shares of Carrefour Brazil.

The Group said its decision comes after the Brazil extension's success, calling it a key asset for the Group that has accelerated its development over the past few years through steady organic growth and accretive acquisitions. 

Its decision comes from the growth and conviction of the Brazilian chain value. Plus, the Group says, "delisting the company will allow it to manage operations with more agility and enhanced focus on execution."

Carrefour reinforced its commitment to Brazil and promised to continue investing in the chain's growth and development.

The completion is still subject to the approval of Carrefour Brazil's minority shareholders, which will be discussed during an Extraordinary General Meeting of Carrefour Brazil’s shareholders, to be held in the second quarter of 2025. If approved, the transaction is expected to be finalized before the end of the second quarter of 2025.