Casino: to study option of Assaí split in Brazil
(CercleFinance.com) - Casino has said that the Board of Directors of Companhia Brasileira de Distribuição (GPA), its subsidiary in Brazil, has approved the start of a study to separate its cash and carry (Assaí) business from the rest of its businesses.
"The goal of this transaction is to unleash the full potential of Assaí, on the one hand, and of the more traditional retail businesses of GPA and Éxito," Casino said.
After this operation, Casino, which currently holds a 41.3% stake in GPA, would thereafter hold 41.3% in GPA and an identical share in the new Sendas Distribuidora (Assaí) entity.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
"The goal of this transaction is to unleash the full potential of Assaí, on the one hand, and of the more traditional retail businesses of GPA and Éxito," Casino said.
After this operation, Casino, which currently holds a 41.3% stake in GPA, would thereafter hold 41.3% in GPA and an identical share in the new Sendas Distribuidora (Assaí) entity.
Copyright (c) 2020 CercleFinance.com. All rights reserved.