Carrefour Considering Brazilian IPO

Carrefour SA (Boulogne Billancourt, France) has named Charles Desmartis to lead all of the grocer’s operations in Brazil, amidst rumors that the multinational hypermarket giant is considering an initial public offering of its Brazilian operations, the retailer’s second-largest business market.

A report in Exame, a Brazilian business magazine, said Carrefour hired Itau BBA and Credit Suisse for an IPO.

Desmartis has been in charge of the company’s financial control since 2011.

Carrefour entered Brazil in 1975 and operates more than 100 hypermarkets and 40 supermarkets in the country, which generated $17.3 billion in revenue last year.