French property company Klepierre could be badly affected if Carrefour moves to sell off its estimated EUR 20 bn property holdings, said analyst Boudewijn Schoon at Dutch merchant bank Kempen & Co. The analyst noted that Klepierre’s recent share price losses were more than likely due to the uncertainty surrounding Carrefour since US private equity firm Colony Capital and French billionaire Bernard Arnault acquired a 9.1% stake in the French retailer. Colony has been pressuring Carrefour to sell off its real estate holdings to finance growth.
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