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Casino: signs agreements with GPA and Exito

(CercleFinance.com) - Casino announces the signing of agreements with GPA and Exito for GPA's forthcoming launch of a full-cash takeover bid on Exito after obtaining the necessary authorisations.

The Exito's board of directors and AGM have also approved the transfer, to Casino, of all Segisor shares held by Exito (which holds 99.9% of the voting rights and 37.3% of the economic rights in GPA).

GPA will therefore launch, through a 100%-owned subsidiary, an takeover bid exclusively in cash for the whole of Exito's capital at a price of 18,000 Colombian pesos (about 4.84 euros) per share, while Casino shall tender its entire stake (55.3%).

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