Carrefour flags Brazilian listing via stake sale to Diniz.

PARIS (Reuters) - French supermarkets group Carrefour (CARR.PA) on Thursday announced that Brazilian billionaire Abilio Diniz had bought a 10 percent stake in its Brazil division through his investment company Peninsula for about 1.8 billion reais (£426 million).

The announcement confirms information provided on Wednesday by a source with direct knowledge of the situation.

In a statement, Carrefour said the transaction had closed and that the opening of the capital of the business could include a listing on the Brazilian stock exchange in future.

In addition, Peninsula holds options allowing it to raise its stake to a maximum level of 16 percent within next five years, the statement said.

(Reporting by Andrew Callus)
Reuters.
Culled from Yahoo News.