Carrefour discards share sale in Brazil

Carrefour discards share sale in Brazil

Equity Capital Markets Corporate & Sovereign Strategy Economy & Policy Brazil

Carrefour is not looking to sell more shares in its Brazilian subsidiary because it has enough cash and because Brazil's rising political volatility makes a deal unfeasible, LatinFinance has heard. "We don't need the cash and market conditions are not good," said an investor relations executive at the supermarket chain. Carrefour Brasil was expected to come to the market with a follow-on offering, one of at least five possible deals in the first half of the year. The market has been mostly mute,

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