Casino: Grupo Éxito demerger project approved
(CercleFinance.com) - Casino says its board of directors has approved the principle of the proposed demerger of GPA and Grupo Éxito through the distribution of approximately 83% of Grupo Éxito's capital to its shareholders, with a minority share of approximately 13% to be sold at a later date.
The distribution would take the form of Brazilian Depository Receipts (BDRs) and American Depository Receipts (ADRs). Subject to completion of the analyses and obtaining the necessary authorisations, it would take place during the first half of 2023.
Casino would then hold three separate listed assets in Latin America: Assaí and GPA in Brazil, both 41% owned, and Grupo Éxito in Colombia, with a direct holding of 34%, and an indirect holding via GPA's 13% minority stake.
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The distribution would take the form of Brazilian Depository Receipts (BDRs) and American Depository Receipts (ADRs). Subject to completion of the analyses and obtaining the necessary authorisations, it would take place during the first half of 2023.
Casino would then hold three separate listed assets in Latin America: Assaí and GPA in Brazil, both 41% owned, and Grupo Éxito in Colombia, with a direct holding of 34%, and an indirect holding via GPA's 13% minority stake.
Copyright (c) 2022 CercleFinance.com. All rights reserved.