We advised the selling shareholder on the transaction

Davis Polk advised Carrefour in connection with its Rule 144A / Regulation S secondary offering of approximately 9,867,000 shares in Carmila, representing approximately 7% of Carmila’s share capital, via an accelerated book-building process. In addition, Carmila repurchased the equivalent of approximately €1 million of its own shares.

With a multi-format network of over 15,000 stores in more than 40 countries, Carrefour is one of the world’s leading food retailers. In 2024, Carrefour generated €94.6 billion in revenue. Its network of integrated stores employs over 300,000 people who contribute to making Carrefour the global leader in the food transition for all, providing high-quality, accessible, and affordable food every day. Founded in 2014, Carmila is a publicly traded company that owns and operates approximately 250 shopping centers, mostly located near Carrefour stores in mid-sized French, Spanish, and Italian towns.

The Davis Polk corporate team included partner Leo Borchardt and associate Francesco Mancuso. Counsel Mark Chalmers provided English law advice. All members of the Davis Polk team are based in the London office.

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