PARIS, June 16 (Reuters) - Brazilian tycoon Abilio Diniz has raised his stake in Carrefour Brazil to 12 percent from 10 percent, a Paris-based spokesman for Peninsula Participacoes, the investment vehicle managing Diniz’s fortune, said on Tuesday.
The investment was made in association with Singapore sovereign fund GIC through a new investment fund named Peninsula Fundo II, the spokesman said, confirming media reports.
Financial details were not disclosed.
In December 2014, Diniz purchased a 10 percent stake in Carrefour’s Brazilian unit. He has an option to raise that stake to 16 percent over five years.
Earlier this year Diniz announced he had doubled his stake in Carrefour SA, the parent company, to 5.07 percent, becoming the French retailer’s fourth-largest shareholder. (Reporting by Dominique Vidalon; Editing by Andrew Callus)