Private equity firm Vesa Equity Investment Sarl disclosed ownership of a 4.63% stake in French retailer Casino Guichard-Perrachon SA.
Financial terms of the transaction were not disclosed. Vesa's stake represents 5,020,139 shares in the retailer, which is undergoing a €2 billion asset disposal plan aimed at improving its finances.
Chairman and CEO Jean-Charles Naouri said in a statement that he will propose appointing a Vesa representative to the company's board at the group's next general meeting.
Vesa Equity is owned by long-term investors Daniel Křetínský and Patrik Tkáč. The two hold majority or controlling interests in European media and retail businesses including Metro AG, Czech Media Invest AS and Mall Group.
Křetínský said in a release that Vesa supports the company's management and fully endorses its long-term strategic vision.
