Friday, August 5, 2011

CBD Chairman Diniz Contacts Carrefour to Explore 'Growth'

Friday, August 5, 2011

Abilio Diniz, the chairman and part-owner of Brazil's largest retailer, Companhia Brasileira de Distribuicao, has reached out to French retail giant Carrefour SA to explore "growth" opportunities, people familiar with the matter said, a move that could threaten a long-standing deal CBD has with Carrefour rival Groupe Casino.

Mr. Diniz, the 74-year-old Brazilian billionaire whose family founded the Pao de Acucar chain of supermarkets, contacted Carrefour some weeks ago to discuss various options for combining Carrefour's Brazilian stores with CBD, including through a stock-for-stock exchange, these people said. But these discussions are very preliminary and although the cost savings make ...

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