Galeries Lafayette owner raises Carrefour stake to 9.5%: paper

[PARIS] The Moulin family that owns French department store Galeries Lafayette has raised its stake in supermarket chain Carrefour, business daily Les Echos reported on Sunday.

Philippe Houze, chairman of Galeries Lafayette's management board, said that the family's stake in Carrefour was now 9.5 per cent, according to an extract of an interview to be published in Les Echos' Monday edition.

The Moulin family had announced last April that it had acquired 6.1 per cent of Carrefour, a transaction worth about 1.28 billion euros that made it the second-biggest shareholder in the supermarket chain after a consortium of Groupe Arnault and private equity group Colony Capital.

A Carrefour spokeswoman said she could not immediately comment.

REUTERS