Investment fund Colony Capital divests from Carrefour

Investment fund Colony Capital divests from Carrefour
Shutterstock

After a decade with the French chain, investment firm Colony Capital has sold all of its shares in Carrefour. Until recently, it owned about 5 % of the company's shares.

Joint venture

Back in 2012, Colony Capital owned more than 8 % of Europe's largest retailer, but ever since it has divested step by step, until it sold off its final 5 % on Friday. Colony Capital had entered a joint venture with Groupe Arnault, which owns about 9 % of Carrefour's shares, and together, they basically governed the supermarket chain. In 2013, both went their own way and split the joint venture.

 

Colony Capital's withdrawal as Carrefour shareholder perfectly fits its strategy, which is to divests from a company after about a decade of activity. Recently, it did similarly with its Edenred shares, a French financial services company.

 

Carrefour is currently looking for a new CEO, as its current CEO Georges Plassat will vacate his position in May 2018.