Brazil : Casino suspends the sale of Via Varejo

Publication

18 April 2017 à 15h41

Updated on 10 May 2019 à 17h55

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1 minute

Publication: 18 April 2017 à 15h41, Updated on 10 May 2019 à 17h55

Reading time: 1 minute

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Publication

18 April 2017 à 15h41

Updated on 10 May 2019 à 17h55

Reading time

1 minute

Publication: 18 April 2017 à 15h41, Updated on 10 May 2019 à 17h55

Reading time: 1 minute

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GPA, the Brazilian branch of Casino, has suspended the sale of the Via Varejo business (home electrical stores Casas Bahia and furniture stores Ponto Frio) due to insufficient offers. Lojas Americanas pulled out of negotiations, and there were no other bids before the submission deadline in late March. Casino is working with the Klein family, owner of 27.3% of Via Varejo, to establish if the family will keep their stake, sell on their own or sell with GPA, which owns 43.3% of Via Varejo.

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