Casino Group announces the initiation of a study from GPA to spin-off Assaí in Brazil
10 Septembre 2020 - 12:49AM
Casino Group announces the initiation of a study from GPA to
spin-off Assaí in Brazil
Casino Group announces the initiation
of a study from GPA to spin-off Assaí in Brazil
Paris, 10th September 2020,
The Board of Directors of Companhia Brasileira
de Distribuição (GPA), subsidiary of Casino Group in Brazil,
approved the initiation of a study to segregate its cash and carry
unit (Assaí) from the rest of its activities.
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, on the other hand.
This operation will allow them to operate on a standalone basis, to
focus on their respective business models and market opportunities.
They will also benefit from direct access to the capital markets
and other sources of funding, creating more value for their
respective shareholders.
Upon the implementation of the operation, Casino
Group, which currently holds a 41.3% stake in GPA, would then hold
a 41.3% stake in GPA and an identical stake in the new entity
Sendas Distribuidora S.A. (Assaí).
GPA press release is available on the website:
http://www.gpari.com.br/en/
This press release was prepared solely for
information purposes, and should not be construed as a solicitation
or an offer to buy or sell securities or related financial
instruments. Likewise, it does not provide and should not be
treated as providing investment advice. It has no connection with
the specific investment objectives, financial situation or needs of
any receiver. No representation or warranty, either express or
implied, is provided in relation to the accuracy, completeness or
reliability of the information contained herein. It should not be
regarded by recipients as a substitute for the exercise of their
own judgement. All the opinions expressed herein are subject to
change without notice.
ANALYST AND INVESTOR
CONTACTSLionel BENCHIMOL – +33 (0)1 53 65 64
17 lbenchimol@groupe-casino.fror
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS
CONTACTSCasino Group – Direction of
CommunicationStéphanie ABADIE - sabadie@groupe-casino.fr -
+33 (0)6 26 27 37 05
or
+33(0)1 53 65 24 78 -
directiondelacommunication@groupe-casino.fr
Agence IMAGE 7Karine
ALLOUIS - +33(0)1 53 70 74 84 -
kallouis@image7.frFranck PASQUIER – Tel : +33 (0)1 53 70 74 91
- fpasquier@image7.fr
- 2020.09.10 - PR - Casino Group announces the initiation of a
study from GPA to spin-off Assai in Brazil
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