Carrefour Sells Stake In Petsmart
PARIS - French retailer Carrefour SA, the world's second-biggest supermarket company, said Wednesday that it has priced a public offering of its 9.9 percent stake in U.S. pet products retailer Petsmart Inc. at $194.3 million, Dow Jones newswire reports.
The decision, announced in late June, is in line with the company's strategy of focusing on its core businesses of hypermarkets, supermarkets and discount stores.
Under the terms of the deal, Carrefour is selling 14.5 million shares in the U.S. company at $13.40 a share. It acquired 13.2 million of the shares it is selling in 1991.
Carrefour said the sale is expected to be completed this month.
The decision, announced in late June, is in line with the company's strategy of focusing on its core businesses of hypermarkets, supermarkets and discount stores.
Under the terms of the deal, Carrefour is selling 14.5 million shares in the U.S. company at $13.40 a share. It acquired 13.2 million of the shares it is selling in 1991.
Carrefour said the sale is expected to be completed this month.
