Eyal Ravid seeks to acquire 30% of Carrefour in an offering and merge it with Victory

In depth

Eyal Ravid, CEO of Victory, is asking the Competition Authority for permission to buy about 30% of the shares of the company that operates Carrefour. The request is being submitted ahead of Carrefour's offering on the stock exchange.

Ravid is seeking approval for a holding that crosses the 25% threshold, above which the law treats the purchase of shares as a merger. In the offering itself, Victory is expected to receive up to about 10%, and it will try to accumulate the remainder later.

The Movement for Quality Government has filed an objection with the Competition Authority. It argues that creating links between the chains or reducing the number of players in the market could lead to price increases and harm to consumers. According to Globes, the plan includes a full merger into a single chain of 210 branches.