Conglomerate Bernard Arnault, LV Boss, The Third Richest Person In The World, Sells All Of His Carrefour Shares For IDR 12.5 Trillion

French conglomerate who is also the boss of Louis Vitton, Bernard Arnault. (Photo; Doc. Forbes)

JAKARTA - French conglomerate Bernard Arnault has just sold all of his Carrefour shares. The value of this action reached 742 million euros or around IDR 12.5 trillion (exchange rate of IDR 16,850 per euro).

Quoted from Reuters, Thursday, September 2, prior to this stock sale, Arnault, who is the boss of Louis Vitton, is the owner of 5.7 percent of the retail company's shares. Arnault bought Carrefour 14 years ago from Colony Capital and Axon Capital for 47 euros per share through his holding company, Financiere Agache.

Unfortunately, Carrefour's share price has now dropped to 16 euros per share. Analyst Bryan Garnier predicts that this corporate action is considered a loss. However, Arnault's men denied this.

However, Arnault appreciates Carrefour's performance because it has managed to achieve a good recovery.

"In the last four years, Carrefour has managed to achieve a very good recovery under the management of Alexandre Bompard", said Arnault.

He added that this action was carried out to reorient the investment objectives of Financiere Agache.

Arnault is the richest person in France and the third richest in the world after Jeff Bezos and Elon Musk. His net worth is estimated at USD 150 billion.

For your information, there are rumors that Carrefour will be taken over by the Canadian company Couche Tard. The company is said to have made an offer in the amount of USD 20 billion or approximately IDR 286 trillion (assuming an exchange rate of IDR 14.300 per US dollar) to buy Carrefour.