The French investment fund PAI Partners, the fund that owns 70% of the shares of Uvesco, is negotiating the sale to Carrefour for around 800 million euros.
Several Basque shareholders are trying to make a bid to the French investment fund PAI Partners, the fund that controls 70% of Uvesco’s shares, so that the BM supermarket chain is not taken over by Carrefour, and thus keep the company in Euskadi.
PAI Partners acquired 70% of Uvesco in December 2021 to expand the business and in June 2024 it was learned that this French investment fund was in negotiations to sell its share of Uvesco to Carrefour for an amount between 700 and 800 million euros.
In light of this news, Basque shareholders are trying to block the sale and make a counter offer to keep the BM supermarket chain in Euskadi.
Adegi managing director Jose Miguel Ayerza has expressed concern about Carrefour’s bid, claiming that more and more Basque companies are being owned by funds whose sole purpose is to make money.
Source: EITB
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