Retail Industry
Industry: Email Alert RSS FeedCarrefour asks $194.3m for PetsMart - Market Watch - PetsMart Inc., sale of shares by Carrefour S.A - Brief Article
DSN Retailing Today, August 12, 2002
PARIS -- Supermarket retailer Carrefour, which announced in late June that it would sell its 9.9% stake in PetsMart Inc., recently has stated a price for the public offering at $194.3 million. The world's second-largest supermarket company said it was selling its PetsMart stake, which it acquired in 1991, in order to concentrate on its core business of hypermarkets, supermarkets and discount stores.
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As part of the deal, Carrefour is selling 14.5 million shares in the U.S. pet food company at $13.40 a share. Carrefour expects the sale to be completed in August.
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