Shearman & Sterling is advising First Eagle Investment Management, second main shareholder of Guyenne et Gascogne (holding 20.09% of the share capital), in connection with the cash tender offer and subsidiary exchange offer that Carrefour announced it intends to file on the shares of Guyenne et Gascogne, Carrefour’s historical partner in the southwest of France. First Eagle Investment Management has undertaken, on behalf of the funds and accounts it manages, to tender its shares to the offer.

Carrefour is a French hypermarket chain. The Carrefour Group has grown to become the world’s second-largest retailer and the largest in Europe. Guyenne et Gascogne directly operates six Carrefour hypermarkets and 28 Carrefour Market supermarkets in France.

Shearman & Sterling partner Guillaume Isautier, of counsel Christian Guilluy, and associate Arthur Ravignon advised First Eagle Investment Management.