Carrefour board member Diniz says Brazil IPO shows economy recovering

Reuters

20 July 2017 at 11:57 am

Abilio Diniz, the third largest Carrefour shareholder, gestures as he attends the company's IPO at the Sao Paulo Stock Exchange in Sao Paulo, Brazil July 20, 2017. REUTERS/Paulo Whitaker (Reuters)

SAO PAULO (Reuters) - Carrefour SA board member Abilio Diniz said on Thursday the initial public offering of the retailer's Brazilian unit shows the country is overcoming its harshest recession in a century.

Diniz, the third largest Carrefour shareholder, and the Chief Executive Officer of Carrefour's Brazilian unit, Charles Desmartis, spoke at an opening bell ceremony in Sao Paulo's stock exchange. Carrefour Brasil <CRFB3.SA> shares are trading 0.5 percent lower from the IPO price.

(Reporting by Aluisio Alves; Writing by Tatiana Bautzer)

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