French retail giant Carrefour is eyeing the possibility of merging its Brazilian unit with Companhia Brasiliera de Distribuição (CBD), in which rival French group Casino holds a 34 per cent stake.
According to a report by French publication Le Journal du Dimanche, Carrefour has commissioned investment bank Lazard to study the possible transaction, which could in turn see the family owners of CBD take a stake in Carrefour, Planet Retail said.
'Abilio Diniz could take a seat at Carrefour, which is having a bad time,' the newspaper reported, adding that any transaction would require the approval of Casino.
