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Carrefour would think about launching a takeover bid on Spanish DIA

Carrefour retail group plans to launch a takeover bid for all or part of the Spanish supermarket chain DIA, according to sources reported by the business daily Madrid Expansion.

Contacted by the agency Agefi-Dow Jones, a spokesman for Carrefour recalls that the group “is not used to comment on rumors.”

In the midst of deep difficulties, DIA is already the target of a takeover bid initiated by L1 Retail, the distribution arm of the Russian investment fund LetterOne, the largest shareholder of the hard discount specialist with 29% of its capital.

L1 Retail proposes to buy back DIA for € 0.67 per share and undertakes to support a capital increase of € 500 million following the tender offer and the implementation of a plan to transformation over five years.

On the Madrid Stock Exchange, the DIA share rose 1.8% to 0.65 euro Thursday. In Paris, the title Carrefour fell 1.2% to 17.71 euros but retains an advance of 18.8% since the beginning of the year.

Source: investir.lesechos.fr

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