The Brazilian unit of retailer Carrefour SA (CARR.PA) said on Thursday it is the target of a corruption probe into alleged payments related to the headquarters of its Brazilian brand Atacadao and a Sao Paulo store, which were operating without a license.
In a securities filing, the Brazil unit of the French retailer said it was being investigated by “relevant authorities” and that it will cooperate as well as conduct its own internal probe.
Shares of Carrefour Brasil were down 1.3% in morning trade in Sao Paulo.
The company said it was disclosing the investigation following media reports of “possible involvement of employees of the company in the payment of undue benefits to certain authorities” related to the operation of a store in Sao Paulo and the headquarters “without operating license.”
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