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Carrefour completes purchase of 17% stake in Showroomprivé

French retail group Carrefour SA said Feb. 7 that it completed the acquisition of a 17% stake in e-commerce company Showroomprivé from Conforama Holding SA.

Carrefour entered into a strategic agreement with Conforama, a unit of embattled retailer Steinhoff International Holdings NV, on Jan. 11. The terms of the agreement remain unchanged.

The company added that French financial market regulator Autorité des Marchés Financiers granted the transaction exemption from the obligation to file a takeover bid.

In addition, Marie Cheval, Carrefour's executive director of customers, services and digital transformation, was appointed to the board of Showroomprivé's owner, SRP Groupe SA. Frédéric Haffner, Carrefour's executive director of strategy and M&A, also will become censor of the board.

On Jan. 23, Carrefour unveiled its transformation plan, which included increasing its online visibility.