UPDATE 3-French retailer Casino restructures Latam operations to boost value [Reuters]
Companhia Brasileira de Distribuicao American Depsitary Shares; each representing one Common Share (CBD)
Last companhia brasileira de distribuicao american depsitary shares; each representing one common share earnings: 7/25 04:03 pm
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Source: Reuters
French retailer Casino restructures Latam operations to boost value - Reuters 4 Min Read PARIS/BRASILIA (Reuters) - French retailer Casino ( CASP.PA ), grappling with high debts, on Thursday unveiled plans to simplify the complex shareholding structure of its Latin American operations to try to boost the value of the business. The restructuring would result in Casino controlling its Latin American business in Brazil, Colombia, Uruguay and Argentina through a 41.4% stake in Brazilian unit Grupo Pao de Acucar (GPA) ( PCAR4.SA ). The restructuring would also see GPA’s shares migrate to the Novo Mercado segment of Brazil’s stock exchange, a move that requires it to comply with stricter governance standards and give “access to an extended base of international investors”. The move comes as the Casino group is trying to improve its financial position and address investor critics over the complex am sometimes opaque structure of its business. Last month Casino’s parent companies includin
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