French retailer Carrefour said Península, the Brazilian family office of the late magnate Abílio Diniz, has sold all its shares in the company for an undisclosed sum.
Carrefour is a leading supermarket chain in France and Brazil, and Península’s 8% stake made it the largest shareholder after the retailer’s French founding family.
“After a decade of strong partnership, Península’s decision to divest its stake in Carrefour is part of the fund’s new asset allocation strategy,” said Eduardo Rossi, chairman of Península, in a news release.
The move had been expected after the private equity group decided in April to sell its remaining shares in the Brazilian subsidiary of Carrefour ahead of its planned delisting from the local stock exchange.
Carrefour announced simultaneously that Rodolphe Saadé, the owner of French logistics group CMA CGM, acquired a 4% stake in Carrefour through the Carrix family office for some EUR400 million ($460 million), according to newspaper Les Échos.
CMA CGM, the world’s third largest ship owner, last year acquired Santos Brazil, the country’s largest container terminal operator.